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Conzzeta: Expected slowdown compared to strong previous-year quarter Montag, 15. April 2019 - 06:45
Conzzeta / Key word(s): Quarterly / Interim Statement
Conzzeta: Expected slowdown compared to strong previous-year quarter
15-Apr-2019 / 06:45 CET/CEST
Release of an ad hoc announcement pursuant to Art. 53 KR
The issuer is solely responsible for the content of this announcement.
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Interim information as of the end of Q1 2019
Expected slowdown compared to strong previous-year quarter
Zurich, April 15, 2019 - The Conzzeta Group posted net revenue of CHF 394.4
million over the first 3 months of 2019, 8.4% less than in the strong first
quarter last year. Adjusted for currency translation effects and changes in
the scope of consolidation, revenue fell by 9.1%. For continuing operations,
i.e. without the Glass Processing segment divested as of March 31, 2019,
revenue fell by 6.3%. Order intake in the Sheet Metal Processing segment
came to CHF 222.2 million, which was a 8.0% drop compared to last year.
CHF m 3M 2019 3M 2018 Chg. in %
Group net revenue 394.4 430.6 -8.4
comparable1 -9.1
Continuing operations
Sheet Metal Processing order intake 222.2 241.5 -8.0
Net revenue 372.1 397.0 -6.3
Sheet Metal Processing 207.9 224.4 -7.4
Chemical Specialties 93.5 102.3 -8.6
Outdoor 70.8 70.6 +0.3
1 At constant exchange rates and adjusted for changes in the scope of
consolidation.
For the continuing operations, net revenue varied regionally in a more
demanding market environment, with lower revenues in Asia and Europe
contrasting with growth in America. In the Sheet Metal Processing segment,
order intake in America and Asia came in below the previous year's figures,
with Asia bouncing back toward the end of the quarter. In Europe, order
intake rose.
Overall, business trends in the first quarter were in line with the outlook
provided for 2019, with flat revenue for continuing operations. They reflect
the base effect of the exceptionally strong first quarter last year in all
segments.
The substantial capital gain for the first half of 2019 communicated with
the sale of the Glass Processing segment on April 1 is currently estimated
at CHF 28 to 31 million.
Notes
Further information can be found at www.conzzeta.com.
Annual Report online: report.conzzeta.com.
Inquiries
Michael Stäheli, Head Investor Relations & Corporate Communications;
Tel. +41 44 468 24 49; media@conzzeta.com
About Conzzeta
Conzzeta is a broadly diversified Swiss group of companies. It stands for
innovation, market orientation and an entrepreneurial approach. Conzzeta
strives for leading positions in its target markets, above-average growth
and long-term value creation. Over 5,200 employees at more than 60 locations
worldwide work in the Sheet Metal Processing, Foam Materials, Graphic
Coatings and Outdoor segments. Conzzeta AG is listed on the SIX Swiss
Exchange (SIX:CON).
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End of ad hoc announcement
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