DGAP-Ad-hoc: SNP Schneider-Neureither & Partner SE / Key word(s): Change in Forecast/Quarter Results
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.
29-Apr-2020 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
|Company:||SNP Schneider-Neureither & Partner SE|
|Dossenheimer Landstraße 100|
|Phone:||+49 6221 6425 637, +49 6221 6425 172|
|Fax:||+49 6221 6425 20|
|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