SNP Schneider Neureither & Partner : SE Updates Forecast for 2020 due to Effects of COVID-19 and Publishes Figures for the First Quarter of 2020
April 29, 2020 at 01:15 pm EDT
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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. Archive at www.dgap.de
SNP Schneider Neureither & Partner SE is a Germany-based company specialized in the Information Technology (IT) Services. The Company has two operational segments: Professional Services, which offers consultancy and training services and Software that provides sale of software and maintenance contracts. It offers software and software-related services for the transformation of IT systems, as well as the optimization of service and support processes. The transformation platform is based on the experience of the more than 1,500 projects. The Companyâs core products include SNP Business Landscape Management (BLM SNP), which structures the consultation process with standardized modules; SNP Dragoman that automates and simplifies the entire translation process; SNP Transformation Backbone that supports SAP System Transformation, as well as Business Landscape Transformation (BLT). The Company provides services to globally operating corporations in the fields of industry, finance and service.
SNP SCHNEIDER-NEUREITHER & PARTNER SE 
