Adtran Networks SE
ADVA Optical Networking SE expects profit reduction due to delivery shortages caused by COVID-19 and changes guidance periods
ADVA Optical Networking SE / Key word(s): Change in Forecast Ad-hoc-release according to article 17 of the market abuse regulation The majority of comparable companies in the German and European stock indices only provide annual guidance. Additionally, various investors and analysts have provided feedback to ADVA that their analysis and valuations are based on annual model calculations and that quarterly guidance is of minor importance. The effects of global trade tensions or the current situation in China due to the COVID-19 (also referred to as the Coronavirus) make evident that quarterly guidance is subject to high fluctuations due to temporary uncertainties or external factors, particularly in ADVA’s industry. Based on the current situation in China, the management board expects shortages in ADVA’s supply chain. The management board believes that these will most likely lead to a negative pro forma operating income margin for Q1 2020. Whether and to what extent the situation in China will continue to deteriorate or improve cannot yet be reliably predicted. The management board assumes, however, that only some revenue will shift to the following quarters and that the decline in the pro forma operating income margin will recover on an annualized basis. FY 2020 revenue outlook FY 2020 pro forma operating income outlook Q4 and FY 2019 financial results For the full year 2019, revenues increased by 10.9% to EUR 556.8 million from EUR 502.0 million in 2018. Pro forma operating income for 2019 was EUR 24.8 million (4.5% of revenues), compared to EUR 23.3 million (4.6% of revenues) in 2018. For more information please contact:
18-Feb-2020 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. |
Language: | English |
Company: | ADVA Optical Networking SE |
Märzenquelle 1-3 | |
98617 Meiningen-Dreissigacker | |
Germany | |
Phone: | +49 89 890 665 0 |
Fax: | +49 89 890 665 199 |
E-mail: | IRelation@advaoptical.com |
Internet: | www.advaoptical.com |
ISIN: | DE0005103006 |
WKN: | 510300 |
Indices: | SDAX |
Listed: | Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange |
EQS News ID: | 978325 |
End of Announcement | DGAP News Service |