EANS-Adhoc: Adjustment of outlook
-------------------------------------------------------------------------------- Disclosed inside information pursuant to article 17 Market Abuse Regulation (MAR) transmitted by euro adhoc with the aim of a Europe-wide distribution. The issuer is responsible for the content of this announcement. -------------------------------------------------------------------------------- Earnings Forecast 11.03.2020 Bregenz - The management board of Wolford AG has analyzed the effects of the increasing spread of the corona virus and expects this global epidemic to have a significant negative impact on the development of sales and earnings of the Wolford Group. In Italy, where the virus has hit particularly hard, Wolford's sales have fallen by about 50% in the last two weeks. Sales in the DACH region have fallen by around 30% in the last two weeks. These negative effects are expected to have impact on the new fiscal year 2020/21 (May 1, 2020 - April 30, 2021). Against this backdrop, the management board has corrected its outlook and no longer expects a positive operating result (EBIT) for the 2020/21 financial year. In view of the current uncertainties, the Management Board will await the further course of the epidemic and its economic consequences before presenting a new medium-term outlook. Further inquiry note: Wolford AG Maresa Hoffmann Investor Relations & Corporate Communications Tel.: +43 5574 690 1258 investor@wolford.com | company.wolford.com end of announcement euro adhoc --------------------------------------------------------------------------------
issuer: Wolford Aktiengesellschaft
Wolfordstrasse 1
A-6900 Bregenz
phone: +43(0) 5574 690-1258
FAX: +43(0) 5574 690-1410
mail: investor@wolford.com
WWW: http://company.wolford.com
ISIN: AT0000834007
indexes: ATX GP
stockmarkets: New York, Wien, Frankfurt
language: English
Original content of: Wolford Aktiengesellschaft, transmitted by news aktuell