August 6, 2019 / 5:09 AM / 20 days ago

Oerlikon lowers 2019 guidance due to weaker economy

Aug 6 (Reuters) - Swiss industrial group OC Oerlikon on Tuesday cut its 2019 guidance, citing market weakness as a result of global economic slowdown and uncertainties.

The company is now targeting orders, sales and the earnings before interest, taxes, depreciation and amortisation (EBITDA) margin to reach 2.7 billion Swiss francs ($2.80 billion), 2.6 billion francs and 15.5%, respectively.

Oerlikon previously said order intake and sales would exceed 2.7 billion Swiss francs and the EBITDA margin would exceed 16%. ($1 = 0.9743 Swiss francs) (Reporting by Bartosz Dabrowski; Editing by Subhranshu Sahu)

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