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DEUTZ AG
Earnings Release • Sep 20, 2019
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Earnings Release
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News Details
Ad-hoc | 20 September 2019 18:57
DEUTZ AG: DEUTZ expects its earnings to be adversely affected by a major supplier’s insolvency
DEUTZ AG / Key word(s): Profit Warning
DEUTZ AG: DEUTZ expects its earnings to be adversely affected by a major supplier’s insolvency
20-Sep-2019 / 18:57 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by DGAP – a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
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.
Contact:
Leslie Isabelle Iltgen
Communications & Investor Relations
Senior Vice President
Tel. +49 (0) 221 822-36 00
Fax: +49 (0) 221 822-15 36 00
E-Mail: [email protected]
20-Sep-2019 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de
| 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: | [email protected] |
| 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 |