SCHMOLZ + BICKENBACH adjusts guidance for fiscal year 2019 Mittwoch, 11. September 2019 - 07:00

Lucerne, September 11, 2019 – SCHMOLZ + BICKENBACH, a global leader in special long steel, today lowered its earnings forecast for the 2019 financial year on the basis of the preliminary figures for the first eight months of 2019 available at the end of August. The company is now forecasting adjusted EBITDA of between EUR 70 million and EUR 100 million.

Demand for steel weakened further during the third quarter due to political uncertainties and escalating trade conflicts. The order backlog continued to decline, as subdued demand from automotive was aggravated by softening orders from mechanical engineering. This is triggering a more pessimistic outlook.

Subsequent to the deteriorated results and outlook, SCHMOLZ + BICKENBACH is reviewing the value-in-use of its operating assets.

SCHMOLZ + BICKENBACH continues to decisively counteract to the adverse market development and to minimize the impacts on the company. The operating improvement and cash preservation measures will be intensified.

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For further information:

Dr Ulrich Steiner

Vice President Corporate Communications, Investor Relations & CSR

Telephone +41 (0)41 581 4120

u.steiner@schmolz-bickenbach.com

www.schmolz-bickenbach.com

About SCHMOLZ + BICKENBACH

The SCHMOLZ + BICKENBACH Group is today one of the world's leading providers of individual solutions in the special long steel products sector. The Group is one of the leading manufacturers of tool steel and non-corrosive long steel on the global market and one of the two largest companies in Europe for alloyed and high-alloyed quality and engineering steels. With more than 10,000 employees and its own production and distribution companies in 30 countries on 5 continents, the company guarantees global support and supply for its customers and offers them a complete portfolio of production and sales & services around the world. Customers benefit from the company's technological expertise, consistently high product quality around the world as well as detailed knowledge of local markets.