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Stabilus S.A.: Update of forecast for the 2020 fiscal year

Mar 17, 2020 6:36 PM

Stabilus S.A. / Key word(s): Forecast/Change in Forecast
Stabilus S.A.: Update of forecast for the 2020 fiscal year

17-March-2020 / 18:36 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.

Stabilus S.A.: Update of forecast for the 2020 fiscal year

Luxembourg/Koblenz, March 17, 2020 - Against the background of the economic uncertainty associated with COVID-19 and the significant reduction in currently expected global light vehicle production in the 2020 fiscal year (ending September 30, 2020) by around 6 percent year-on-year, compared to the previously expected year-on-year decline of only around 2 percent from November 2019, Stabilus S.A. ("Stabilus", ISIN LU1066226637) considers the forecast for the 2020 fiscal year published at that time to be no longer achievable. As a consequence of the significant reduction in economic activity, revenue in FY2020 is currently expected to fall below the previously forecast level of 970 to 990 million euros and the adjusted EBIT margin is expected to be below the previous expectation of 15 percent. In light of the dynamics of the global developments in connection with COVID-19, a more precise forecast of revenue and adjusted EBIT margin can only be given at a later point in time.

# End of ad hoc announcement #


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