Zumtobel Group AG

Earnings Release • Apr 14, 2016

publication: 14.04.2016 20:40 source: http://adhoc.pressetext.com/news/1460659200243 keywords: Zumtobel Group AG / amendment of forecast / Zumtobel

Adhoc announcement according to article 48d section 1 BörseG

Zumtobel Group AG: Zumtobel Group adjusts forecast for the current financial year

Dornbirn, Austria (pta028/14.04.2016/20:40) - As a result of today's consultations, the Management Board of Zumtobel Group AG has revised its forecast for the 2015/16 financial year (1 May 2015 to 30 April 2016). The Management Board now expects adjusted EBIT of EUR 55 to 60 million for the full financial year (FY 2014/15: EUR 66.5 million) and an increase of approx. 2.5% in revenues. The original guidance was based on adjusted EBIT of EUR 70 to 80 million and an increase of approx. 5% in revenues.

Today's Management Board discussions focused on the unsatisfactory development of business in March and the weak order levels for the month of April. In addition to the ongoing market difficulties in France and Australia, there has been an unexpected slowdown in the economic environment not only in Great Britain - the most important market for the Zumtobel Group - but also in Switzerland in recent weeks. The resulting weaker revenue development will prevent the Group from meeting the original earnings forecast, in spite of the positive effects from the previously implemented restructuring and cost savings measures.

Zumtobel Group AG will present detailed information on the development of business on 22 June 2016 in connection with the announcement of results for the 2015/16 financial year.

emitter:	Zumtobel Group AG Höchster Straße 8 6850 Dornbirn Austria
contact person:	Harald Albrecht
phone:	+43 5572 509-1125
e-mail:	harald.albrecht@zumtobelgroup.com
website:	www.zumtobelgroup.com
ISIN(s):	AT0000837307 (share)
stock exchanges:	official trade in Vienna

News transmitted by pressetext.adhoc. The emitter is responsible for the content.