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SNP SCHNEIDER-NEUREITHER & PARTNER AG (FRA:SHF) SNP SE Updates Forecast for 2020 due to Effects of COVID-19 and Publishes Figures for the First Quarter of 2020

Directive transparence : information réglementée

29/04/2020 19:08

DGAP-Ad-hoc: SNP Schneider-Neureither & Partner SE / Key word(s): Change in Forecast/Quarter Results
SNP SE Updates Forecast for 2020 due to Effects of COVID-19 and Publishes Figures for the First Quarter of 2020

29-Apr-2020 / 19:08 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.


SNP Schneider-Neureither & Partner SE has today updated its forecast for the 2020 fiscal year due to the expected effects of the COVID-19 pandemic. While the company completed the first quarter of 2020 with a significant increase in revenue, management currently assumes that the effects of the pandemic will have a significantly greater impact in the second quarter in particular, thus resulting in a slowdown in growth by comparison with the previous year. Since early April, demand has declined in the automotive and aircraft industries, for instance. Nonetheless, SNP SE continues to expect growth in revenue compared to the previous year. Its updated forecast envisages Group revenue of between € 145 million and € 170 million (previously: between € 175 million and € 185 million). The EBIT margin is expected to fall within the mid-single-digit percentage range (previously: between 6.5% and 8.5%). Following a weaker second quarter of the current fiscal year, SNP SE's management expects conditions to improve during the third quarter.

With revenue growth of 19.5% to € 34.4 million (Q1 2019: € 28.8 million), the COVID-19 pandemic has not had any significant impact on the first quarter of 2020. At € 47.7 million, the order entry volume was around 23% higher than in the previous year (Q1 2019: € 38.8 million). At € -4.0 million, the EBIT figure was slightly lower than in the same quarter in the previous year (Q1 2019: € -3.3 million). The full report for the first quarter will be published on April 30, 2020 as planned.

Contact:
Christoph Marx
Global Head of Investor Relations
Tel.: 06221 / 6425 - 172
Mail: christoph.marx@snpgroup.com


29-Apr-2020 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
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Language: English
Company: SNP Schneider-Neureither & Partner SE
Dossenheimer Landstraße 100
69121 Heidelberg
Germany
Phone: +49 6221 6425 637, +49 6221 6425 172
Fax: +49 6221 6425 20
E-mail: investor.relations@snpgroup.com
Internet: www.snpgroup.com
ISIN: DE0007203705
WKN: 720370
Listed: Regulated Market in Berlin, Dusseldorf, Frankfurt (Prime Standard), Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange
EQS News ID: 1033245

 
End of Announcement DGAP News Service

1033245  29-Apr-2020 CET/CEST

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