April 19, 2018 / 1:57 PM / 3 months ago

BRIEF-HanseYachts: FY 2017/2018 Earnings Forecast Will Not Be Reached

April 19 (Reuters) - HANSEYACHTS AG:

* 9-MONTH NEGATIVE EBITDA OF EUR -0.4 MILLION (PREVIOUS YEAR: EUR +4.6 MILLION)

* PRELIMINARY Q3 RESULT 2017/2018 AND FORECAST ADJUSTMENT FOR 2017/2018 FINANCIAL YEAR

* 9-MONTH SALES 6% UP VERSUS SAME PERIOD IN PREVIOUS YEAR (EUR 80.2 MILLION)

* SAYS EARNINGS FORECAST FOR 2017/2018 FINANCIAL YEAR (1 JULY 2017 TO 30 JUNE 2018) CANNOT BE REACHED

* FOR FY 2017/2018 MANAGEMENT BOARD IS NOW EXPECTING EBITDA TO BE IN RANGE OF EUR +5 MILLION TO EUR +7 MILLION

* SAYS NET INCOME FOR 2017/2018 FINANCIAL YEAR WILL DECREASE ACCORDINGLY AND THEREFORE BE NEGATIVE

* SEES SUBSEQUENT 2018/2019 FY TO SHOW POSITIVE CONSOLIDATED NET INCOME WITH MODERATE SALES GROWTH

* IN MEDIUM TERM, COMPANY AIMS TO ACHIEVE EUR 200 MILLION SALES THRESHOLD WITH AN EBITDA MARGIN IN RANGE OF 10% TO 12% Source text for Eikon: Further company coverage: (Gdynia Newsroom)

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