May 8, 2020 / 4:39 AM / in a month

BRIEF-Dormakaba Withdraws Guidance Due To Pandemic

May 8 (Reuters) - Dormakaba Holding AG:

* NET SALES AND PROFITABILITY IN Q3 OF 2019/20 DECLINING DUE TO CRISIS

* FREE CASH FLOW SIGNIFICANTLY HIGHER THAN IN PREVIOUS YEAR

* SOLID BALANCE SHEET AND COMPREHENSIVE FINANCING FACILITIES

* CONSISTENT CONTINUATION OF STRATEGY WITH WELL-CHOSEN INVESTMENTS DESPITE COVID-19 CRISIS

* ORGANIC SALES DECLINED AT GROUP LEVEL AROUND 3%

* EBITDA MARGIN IN Q3 OF 2019/20 WAS AROUND 150 BASIS POINTS LOWER THAN YEAR-BACK FIGURE

* DEVELOPMENT OF ECONOMY AND IMPACT OF COVID-19 PANDEMIC ON OUR BUSINESS CANNOT BE PREDICTED

* SITUATION IN CHINA HAS STABILIZED AND BOTH PRODUCTION AND LOCAL DEMAND HAVE ALREADY RETURNED TO A SATISFACTORY LEVEL

* UNFAVORABLE EFFECTS IN NORTH AND SOUTH AMERICA AND IN PARTS OF ASIA AND EUROPE

* WITHDRAWING ITS PREVIOUS GUIDANCE AND WILL NOT BE MAKING ANY MORE FINANCIAL FORECASTS FOR CURRENT 2019/20 FINANCIAL YEAR Source text for Eikon: Further company coverage: (Berlin Speed Desk)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below