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MAX Automation SE Earnings Release 2020
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Earnings Release
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Ad-hoc | 29 April 2020 16:53
MAX Automation SE withdraws forecast for current fiscal year due to COVID 19 pandemic
MAX Automation SE / Key word(s): Change in Forecast
MAX Automation SE withdraws forecast for current fiscal year due to COVID 19 pandemic
29-Apr-2020 / 16:53 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.
Ad hoc RELEASE (PURSUANT TO SECTION 17 GERMAN SECURITIES TRADING ACT (WPHG))
MAX Automation SE withdraws forecast for current fiscal year due to COVID 19 pandemic
Dusseldorf, 29 April 2020 – Due to the unprecedented operational and financial challenges posed by the spread of COVID-19 and the continuing very dynamic developments in the wake of the pandemic, the Board of Directors does not maintain the forecast for the current financial year published on 17 March 2020 with the 2019 annual financial statements (sales at group level between EUR 380 million and EUR 410 million with EBITDA between EUR 16 million and EUR 20 million). At present, the economic impact of the pandemic can neither be determined in detail nor reliably quantified. However, based on current developments, the Group does not expect sales and earnings to be achieved as forecast.
The first quarter of 2020 was not yet strongly influenced by the corona crisis. Based on preliminary calculations, the Group expects revenues of around EUR 80 million (2019: EUR 87 million) and operating earnings before interest, taxes, depreciation and amortization (EBITDA) of around EUR 0.3 million (2019: EUR -0.5 million) for the first quarter of 2020.
Immediately after the announcement of the measures to contain the pandemic in Germany, the MAX Group set up a crisis task force within the Management Board, which continuously analyses and evaluates the situation and takes decisions on this basis in the coming months. Several measures have already been decided upon to keep the risks for the MAX Group as low as possible while at the same time ensuring the ability to act. The subsidiaries are largely maintaining their respective operations, also in order to be able to restart production as flexibly as possible. The health and safety of the employees have the highest priority here. The Group’s liquidity position ensures sufficient flexibility despite increased net debt in 2019.
MAX Automation SE will report its first-quarter results 2020 on 13 May 2020.
Contact:
Katja Redweik
Head of Corporate Development/IR
MAX Automation SE
Tel.: +49 – 211 – 9099 144
Contact for media representatives:
| Susan Hoffmeister | Marco Cabras | |
| CROSS ALLIANCE communication GmbH | newskontor – Agentur für Kommunikation | |
| Tel.: +49 – 89 – 125 09 03 30 | Tel.: +49 – 211 – 863 949 22 | |
| [email protected] | [email protected] | |
| www.crossalliance.de | www.newskontor.de |
29-Apr-2020 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de
| Language: | English |
| Company: | MAX Automation SE |
| Breite Straße 29-31 | |
| 40213 Düsseldorf | |
| Germany | |
| Phone: | +49 (0)211 90991-0 |
| Fax: | +49 (0)211 90991-11 |
| E-mail: | [email protected] |
| Internet: | www.maxautomation.com |
| ISIN: | DE000A2DA588 |
| WKN: | A2DA58 |
| Listed: | Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange; BX |
| EQS News ID: | 1031183 |
| End of Announcement | DGAP News Service |