Ringmetall lowers sales and earnings forecast for 2019
|
Ringmetall Aktiengesellschaft / Key word(s): Profit Warning/Change in Forecast Ringmetall lowers sales and earnings forecast for 2019 Munich, 24 July 2019 - According to first preliminary figures on revenue and earnings development in the second quarter of 2019 in connection with a current estimate of sales development in the second half of 2019, the Management Board of Ringmetall AG considers the forecast published in the Annual Report 2018 for business development in the full year 2019 to be too optimistic. The Management Board comes to this assessment also on the basis of current publications on the business expectations in central customer industries of Ringmetall's products, especially the chemical industry and the logistics sector. Signs of a lack of sales momentum were already apparent towards the end of the second quarter. In conjunction with a conservative estimate of the sales development in the second half of 2019, the Management Board anticipates sales revenues in the range between EUR 115.0 and 125.0 million and earnings before interest, taxes, depreciation and amortization (EBITDA) between EUR 8.5 and 11.0 million for the full year 2019. The ranges include both the revenue and earnings contribution of Tesseraux GmbH, which was consolidated for the first time as of July 1, 2019, and effects resulting from the first-time application of IFRS 16. Cost adjustments have already been made to production capacities and the scope of temporary employment contracts has been reduced accordingly. The Management Board continues to assess the company's medium-term prospects as positive and assumes that a possible economic slowdown will have a positive effect on the conditions of planned M&A activities. Information and Explanation of the Issuer to this News: The Management Board will be available for further information tomorrow, 25 July 2019, at 8:30 a.m. CET during a conference call for analysts, institutional investors and journalists. At https://events.arkadin.com/ev/docs/International%20Access%20Numbers_%20DETAU2.pdf all dial-in numbers are available. The PIN code of the conference call is 42524380#. Contact: Phone: +49 (0)89 45 220 98 12 About Ringmetall Group Ringmetall is an internationally leading specialist in the packaging industry. The Industrial Packaging business segment offers highly secure gasket and locking systems for the chemical, the petrochemical and the pharmaceutical industry as well as the food industry. The Industrial Handling business segment develops application-optimized vehicle accessory parts for the handling and transport of packaging units. Besides its headquarters in Munich, Ringmetall has worldwide production and sales subsidiaries in Germany, Great Britain, Spain, Italy, Turkey, the Netherlands, as well as in China and the USA. On a global scale, Ringmetall generates revenues of more than EUR 100 million per year.
24-Jul-2019 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. |
| Language: | English |
| Company: | Ringmetall Aktiengesellschaft |
| Innere Wiener Str. 9 | |
| 81667 Munich | |
| Germany | |
| Phone: | 089 / 45 22 098 - 0 |
| Fax: | 089 / 45 22 098 - 22 |
| E-mail: | info@ringmetall.de |
| Internet: | www.ringmetall.de |
| ISIN: | DE0006001902 |
| WKN: | 600190 |
| Listed: | Regulated Market in Frankfurt (General Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange |
| EQS News ID: | 846269 |
| End of Announcement | DGAP News Service |