October 24, 2019 / 5:15 AM / 20 days ago

BRIEF-VAT Group Sees 2019 Net Income Below 2018 Level

Oct 24 (Reuters) - VAT GROUP AG:

* NINE-MONTH ORDERS AND NET SALES BELOW 2018 LEVELS AS EXPECTED

* Q3 ORDERS UP 11% YEAR-ON-YEAR; NET SALES 16% LOWER VERSUS Q3 2018

* SEES 2019 NET INCOME BELOW 2018 LEVEL

* FULL-YEAR CAPEX EXPECTED TO BE CHF 20 - 25 MILLION; FREE CASH FLOW ABOVE 2018 LEVEL

* FULL-YEAR EBITDA MARGIN EXPECTED TO BE ABOVE HALF-YEAR 2019 LEVEL

* FOR FULL YEAR 2019, VAT EXPECTS NET SALES OF CHF 550 - 560 MILLION AT CONSTANT FOREIGN EXCHANGE RATES

* Q4 NET SALES EXPECTED TO RETURN TO YEAR-ON-YEAR GROWTH AT CHF 150-160 MILLION

* EXPECTS FULL-YEAR NET INCOME TO BE BELOW LEVEL OF 2018

* Q3 NET SALES EUR 137.0 MILLION VERSUS EUR 162.7 MILLION YEAR AGO Source text: bit.ly/2Ji94xU Further company coverage: (Gdansk Newsroom)

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