DEUTZ AG
DEUTZ AG: DEUTZ expects its earnings to be adversely affected by a major supplier’s insolvency
DEUTZ AG / Key word(s): Profit Warning Cologne, September 20, 2019 – DEUTZ AG is expecting that the insolvency of a major supplier will have an adverse financial impact, the overall effect of which will be that DEUTZ AG can no longer achieve its previous forecast of at least 5.0 percent for the EBIT margin before exceptional items in the current financial year. Because of the anticipated adverse financial impact, the EBIT margin before exceptional items is now predicted to be in the range of 4 to 5 percent in 2019. DEUTZ AG assumes that supply will be maintained despite the insolvency. Despite the weakening economic conditions, the Company confirms its revenue forecast for 2019 of more than EUR1.8 billion.
Communications & Investor Relations Senior Vice President Tel. +49 (0) 221 822-36 00 Fax: +49 (0) 221 822-15 36 00 E-Mail: leslie.iltgen@deutz.com
20-Sep-2019 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. |
Language: | English |
Company: | DEUTZ AG |
Ottostraße 1 | |
51149 Köln (Porz-Eil) | |
Germany | |
Phone: | +49 (0)221 822 0 |
Fax: | +49 (0)221 822 3525 |
E-mail: | ir@deutz.com |
Internet: | www.deutz.com |
ISIN: | DE0006305006 |
WKN: | 630500 |
Indices: | SDAX |
Listed: | Regulated Market in Dusseldorf, Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange |
EQS News ID: | 877513 |
End of Announcement | DGAP News Service |