March 10, 2020 / 6:34 AM / a month ago

BRIEF-Huber+Suhner FY EBIT Down At CHF 80.5 Mln

March 10(Reuters) - HUBER+SUHNER AG :

* FY EBIT DOWN AT CHF 80.5 MILLION (PREVIOUS YEAR: CHF 82.5 MILLION)

* FY NET INCOME UP AT CHF 62.8 MILLION (PY CHF 61.4 MILLION)

* FY ORDER INTAKE DOWN AT CHF 800.9 MILLION (PREVIOUS YEAR CHF 915.2 MILLION), DECLINE OF 12.5 %

* FY NET SALES OVERALL DOWN 6.1 % AT CHF 830.6 MILLION (PY CHF 885.0 MILLION)

* TO PROPOSE ORDINARY DIVIDEND OF CHF 1.60 PER SHARE (PY CHF 1.50 PER SHARE), CORRESPONDING TO PAYOUT RATIO OF 50 %

* OUTLOOK 2020 IS CERTAIN THAT MEASURES AGAINST SPREAD OF CORONAVIRUS IN CHINESE MARKET WILL HAVE NEGATIVE EFFECTS DIRECTLY ON LOCAL SALES AND INDIRECTLY ON GLOBAL VALUE CHAINS WITH CHINESE PARTICIPATION

* AT THIS POINT IT IS UNCLEAR HOW GEOGRAPHICAL EXPANSION OF CORONAVIRUS EPIDEMIC WILL POSSIBLY IMPACT BUSINESS IN ADDITIONALLY AFFECTED REGIONS

* FROM TODAY’S PERSPECTIVE, AIM REMAINS UNCHANGED TO ACHIEVE AN EBIT MARGIN WITHIN MEDIUM-TERM TARGET RANGE OF 8–10 % FOR FY 2020

Source text: bit.ly/2Q00zeb

Further company coverage: (Gdansk Newsroom)

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