Ad-hoc announcement: COVID-19 negatively impacts Zumtobel Group AG’s revenue and earnings development
March 23, 2020 at 02:45 pm EDT
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Ad-hoc announcement: COVID-19 negatively impacts Zumtobel Group AG's revenue and earnings development
23.03.2020
Dornbirn, Austria, 23 March 2020, at 19.00 pm UTC +1 - Due to the COVID-19 pandemic, the Executive Board of the Zumtobel Group AG is expecting a negative impact on the revenue and earnings development. Based on the global spread of the Coronavirus, extensive state measures are currently being implemented. These measures are already resulting in noticeable impacts on sales regions as well as the production. In reaction to these framework conditions as well as in the interest of the health and safety of all employees, the Zumtobel Group AG is implementing an extensive set of measures. These concrete measures include temporary adjustments of capacities as well as the planned transition to short-term work at several locations. Depending on the situation it is also possible that there will be the necessity to temporarily close production sites.
In regards to the daily changing, unprecedented situation as well as the uncertain further development, the economic impacts can currently not be assessed. Based on the predictable negative developments during the months of March and April, the Zumtobel Group AG is expecting a decline in revenues for the on-going 2019/20 financial year (1 May 2019 until 30 April 2020) compared to the previous year. The goal of an improvement of the adjusted EBIT margin to 3% to 5% remains intact. However, the previously communicated goal of an EBIT margin of roughly 6% for the 2020/21 financial year can presumably not be achieved from today's perspective.
Media Contact
Zumtobel Group Press Team
+43 (0)5572 509 575
press@zumtobelgroup.com
Investor Relations
Emanuel Hagspiel
Senior Director Investor Relations
Tel. +43 (0)5572 509-1125
emanuel.hagspiel@zumtobelgroup.com
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Zumtobel Group AG published this content on 23 March 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 23 March 2020 18:44:04 UTC
Zumtobel Group AG is an Austria-based company. The Company is engaged as a provider of lighting solutions, lighting components and the associated services. The Company operates through two segments: Lighting Segment and Components Segment. In the lighting segment, the Company produces hardware and software for lighting systems (LED light sources, LED drivers, sensors and light management). It offer services such as advice on intelligent lighting controls and emergency lighting systems, lighting contracting, design services, project management for turnkey lighting solutions as well as new, data-based services with a focus on connecting buildings and cities using light infrastructure, e.g. Real-time location of goods and people using Bluetooth Doppler direction finding. The Components segment includes industry (including logistics, halls, parking garages), office, education and healthcare (including hospitals, schools and universities) and retail (incl. Supermarkets, furniture stores).
ZUMTOBEL GROUP AG 
