April 28, 2020 / 9:55 AM / in a month

BRIEF-SMT Scharf Cuts 2020 Guidance, Sees Negative EBIT

April 28 (Reuters) - SMT Scharf AG:

* DGAP-ADHOC: SMT SCHARF AG PUBLISHES PRELIMINARY FIGURES FOR Q1/2020 AND ADJUSTS FORECAST FOR FINANCIAL YEAR 2020

* CONSOLIDATED SALES TOTALING EUR 10.7 MILLION IN Q1 OF 2020, DOWN BY EUR 4.2 MILLION ON PREVIOUS YEAR’S FIGURE OF EUR 14.9 MILLION

* Q1 OPERATING PROFIT (EBIT) CAME IN AT MINUS EUR 2.0 MILLION (Q1/2019: EUR 1.6 MILLION)

* DOWNTURN IN Q1 SALES AND EARNINGS IS ESSENTIALLY ATTRIBUTABLE TO CORONAVIRUS PANDEMIC

* ADJUSTED ITS GUIDANCE FOR FINANCIAL YEAR 2020 AND NOW ANTICIPATES FULL-YEAR CONSOLIDATED SALES OF EUR 55 TO 57 MILLION FOR 2020

* FORECASTING EBIT FOR 2020 WITHIN A CORRIDOR OF BETWEEN EUR MINUS 1.4 AND MINUS 1.6 MILLION

* TO DATE, SMT SCHARF GROUP SUPPLY CHAINS REMAIN UNINTERRUPTED

* DUE TO CURRENT EXCEPTIONAL SITUATION, HOWEVER, SOME INCOMING ORDERS HAVE NOT YET BEEN EXECUTED, OR ONLY WITH DELAY Source text for Eikon: Further company coverage: (Gdansk Newsroom)

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