EANS-Adhoc: ANDRITZ suspends sales and earnings forecast for 2020
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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.
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Earnings Forecast
23.03.2020
Graz, March 23, 2020 -
Due to the global COVID-19 crisis, international technology group ANDRITZ
expects a negative impact on the development of its sales and earnings in the
2020 business year. The extent depends on the duration of the crisis and its
future impact on the global economy and on the markets served by ANDRITZ. Hence,
it cannot be quantified at the moment with sufficient certainty.
As a result, ANDRITZ has suspended it sales and earnings forecast for 2020 as
disclosed at the presentation of the results for 2019 and anticipating a slight
increase in sales and unchanged earnings before extraordinary effects (EBITA)
compared to 2019 (before extraordinary effects). At the moment, it is impossible
to estimate the effects on sales and earnings in 2020.
In order to counteract a possible drop in sales as best as possible, ANDRITZ has
already initiated temporary cost-saving measures in many countries where the
Group is active.
A change of the resolution concerning use of profits (dividend proposal) is not
planned at the moment, however - depending on the further development of the
corona crisis - this cannot be excluded.
The Annual General Meeting originally scheduled for March 25, 2020, had to be
canceled due to the regulations introduced by the Austrian Federal Government.
- End -
Zwtl.: INSIDER INFORMATION AVAILABLE FOR DOWNLOAD
This insider information is available for download at andritz.com/news [http://
www.andritz.com/news?utm_source=GR-press-release].
Zwtl.: FOR FURTHER INFORMATION, PLEASE CONTACT
Dr. Michael Buchbauer
Head of Corporate Communications
michael.buchbauer@andritz.com
andritz.com
Zwtl.: ANDRITZ GROUP
International technology group ANDRITZ offers a broad portfolio of innovative
plants, equipment, systems and services for the pulp and paper industry, the
hydropower sector, the metals processing and forming industry, pumps, solid/
liquid separation in the municipal and industrial sectors, as well as animal
feed and biomass pelleting. The global product and service portfolio is rounded
off with plants for power generation, recycling, the production of nonwovens and
panelboard, as well as automation and digital solutions offered under the brand
name of Metris. The publicly listed group today has around 29,500 employees and
more than 280 locations in over 40 countries.
Further inquiry note:
FOR FURTHER INFORMATION, PLEASE CONTACT
Dr. Michael Buchbauer
Head of Corporate Communications
michael.buchbauer@andritz.com
andritz.com
end of announcement euro adhoc
--------------------------------------------------------------------------------issuer: Andritz AG
Stattegger Straße 18
A-8045 Graz
phone: +43 (0)316 6902-0
FAX: +43 (0)316 6902-415
mail: welcome@andritz.com
WWW: www.andritz.com
ISIN: AT0000730007
indexes: WBI, ATX
stockmarkets: Wien
language: English
Original content of: Andritz AG, transmitted by news aktuell