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Brilliant AG
Earnings Release • Nov 20, 2023
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Earnings Release
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Ad-hoc | 20 November 2023 11:47
Brilliant AG: Brilliant-Group adjusts sales and earnings forecast for 2023
Brilliant AG / Key word(s): Profit Warning/Annual Results
Brilliant AG: Brilliant-Group adjusts sales and earnings forecast for 2023
20-Nov-2023 / 11:47 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by EQS News – a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
Publication of insider information according to Article 17 of Regulation (EU) No. 596/2014
Gnarrenburg, 20.11.2023 The Management Board of Brilliant AG (ISIN: DE0005272702) announces that the sales and earnings planning of EUR 74.4 million and EUR 5.5 million respectively for the 2023 financial year cannot be met. The Management Board is now forecasting consolidated sales of between EUR 67.0 million and EUR 69.0 million (previous year: EUR 65.4 million) and a consolidated net profit of between EUR 2.3 million and EUR 2.6 million (previous year: consolidated net loss of EUR -8.0 million) for the current 2023 financial year.
In the first half of 2023, planned sales had already not been achieved due to consumers’ cautious purchasing behaviour, but we achieved our plan buy careful cost management. However, the already existing consumer restraint has now intensified, meaning that the Brilliant Group’s usual seasonal business in the third and fourth quarters is weaker than usual and planned. In terms of costs, the Brilliant Group continues to carefully manage its costs and to benefit from a continuing cost reduction plan ~,~ but these are not sufficient to compensate for the drop in sales and the additional costs currently being incurred. Customers are again delaying the agreed orders, which is leading to additional costs in the warehouse area due to higher inventories. Further unplanned burdens in the area of financing due to rising interest rates and higher freight costs are also contributing to the necessary adjustments.
contact:
Brilliant AG
Michael Last/ Gunther Bonnes, Vorstände
Brilliantstraße 1, 27442 Gnarrenburg
Telefon: +49(0)4763890
Telefax: +49(0)476389171
E-Mail: [email protected]
Web: https://brilliant-ag.com/
End of Inside Information
20-Nov-2023 CET/CEST The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.eqs-news.com
| Language: | English |
| Company: | Brilliant AG |
| Brilliantstraße 1 | |
| 27442 Gnarrenburg | |
| Germany | |
| Phone: | +49 (0)4763-89-0 |
| Fax: | +49 (0)4763-89-171 |
| E-mail: | [email protected] |
| Internet: | www.brilliant-ag.com |
| ISIN: | DE0005272702 |
| WKN: | 527270 |
| Listed: | Regulated Unofficial Market in Berlin, Hamburg (Mittelstandsbörse Deutschland) |
| EQS News ID: | 1777337 |
| End of Announcement | EQS News Service |