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Thursday 09 April, 2020

KSB SE & Co. KGaA

Adjustment of sales and earnings forecast 2020

RNS Number : 3685J
KSB SE & Co. KGaA
09 April 2020
 

KSB SE & Co. KGaA: Adjustment of sales and earnings forecast 2020

KSB SE & Co. KGaA / Key word(s): Change in Forecast
KSB SE & Co. KGaA: Adjustment of sales and earnings forecast 2020

09-Apr-2020 / 11:10 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

 

Impact of the COVID-19 pandemic - KSB retracts outlook for the 2020 financial year

FRANKENTHAL: The restrictions ordered by national governments due to the COVID-19 pandemic are resulting in substantial adjustments, interruptions and the closing of facilities and sites at several KSB companies as well as at customers and suppliers. This will inevitably entail tangible impacts on the KSB Group's business development.

Due to the uncertainty about the duration of the restrictions and in light of the current difficulty in estimating further potential consequences for production, the supply chain and demand, the Management of KSB SE & Co. KGaA has decided to retract the outlook for the 2020 financial year published in the 2019 Annual Report. As the developments which are being caused by the pandemic are highly dynamic, at the present time it is not possible to say when a new outlook can be issued.

The situation described is already having an impact on the financial results in the first quarter of the 2020 financial year. Based on preliminary figures, compared with the first quarter of last year KSB is expecting a decline in sales revenue of 3.2 % to € 518 million and a decrease in order intake of 12.0 % to € 588 million.

At the end of February 2020, KSB had cash and cash equivalents amounting to € 316 million and additional undrawn credit lines of over € 300 million. As these are not subject to compliance with certain financial key indicators or to any ranking by rating companies, they therefore secure our financial stability and flexibility.

KSB will publish the interim report on the first quarter of 2020 on 30 April 2020.




Contact:
Dr. Matthias Schmitz
Member of the Executive Board

 

09-Apr-2020 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de

 

Language:

English

Company:

KSB SE & Co. KGaA


Johann-Klein-Strasse 9


67227 Frankenthal


Germany

Phone:

+49 6233 86-2020

Fax:

+49 6233 86-3435

Internet:

www.ksb.com

ISIN:

DE0006292030

WKN:

629203

Listed:

Regulated Market in Dusseldorf, Frankfurt (General Standard); Regulated Unofficial Market in Berlin, Hamburg, Munich, Stuttgart, Tradegate Exchange

EQS News ID:

1019415

 



 


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