Publication of Insider Information according to [Art. 17 MAR]
INDUS Holding AG publishes new forecast for 2020 based on the preliminary figures for the first half of 2020
Bergisch Gladbach, 3 August 2020 – Based on the preliminary figures for the first half of 2020 and an updated planning INDUS comes back with a forecast for the further course of business in 2020, despite the ongoing high level of uncertainty as to the further consequences of the corona pandemic. INDUS had withdrawn the 2020 forecast published in the Annual Report on 30 March 2020 by way of an ad hoc announcement on 7 May 2020.
INDUS currently expects sales in the range of EUR 1.45 billion to EUR 1.6 billion and operating earnings (EBIT) of EUR 0 million to EUR 20 million at group level in the 2020 financial year.
In addition to the impairments, write-downs and expenses for the formation of provisions already communicated on 7 July 2020 and booked in the second quarter of 2020, this forecast also takes into account the ongoing adverse impact of the COVID-19 pandemic on the operating business, as far as it is known at present. The updated forecast is based on the assumption that the economic situation bottomed out in the second quarter of 2020 and a hesitant recovery will take place in the second half of 2020. This includes the assumption that there will not be a lockdown in Germany and in the most important sales markets in the second half of the year.
The essential key figures for the first half of the financial year 2020 are better than the actual average analysts’ estimates but continue to be affected by the effects of the COVID-19 pandemic. For the first half of 2020, revenues amount to EUR 774.2 million (previous year: EUR 876.5 million), the operating result (EBIT) to EUR -18.3 million (previous year: EUR 66.5 million) and the result after taxes to EUR -39.3 million (previous year: EUR 37.7 million).
The business figures for the first half of 2020 will be published on August 6, 2020.
The composition of EBIT corresponds to that presented on Page 121 of the Annual Report 2019 of INDUS Holding AG.