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DGAP-Ad-hoc: WashTec AG / Key word(s): Change in Forecast
WashTec AG: WashTec withdraws outlook 2020 due to the effects of the COVID-19 pandemic on business
03-Apr-2020 / 14:50 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.
In view of the rapid global spread of the COVID-19 pandemic, particularly in recent days, the associated crisis measures taken by the respective countries, and their drastic effects on the economy, and furthermore in view of the development of order intake for the second quarter, it is currently not possible to make a reliable estimate of the course of our business development for the financial year 2020. As a result, the outlook for the financial year 2020, which WashTec AG provides as part of the Annual Report 2019 published on March 18, 2020 (pages 72 to 74), is no longer valid.
An updated outlook is not possible under the current fast-moving changes. WashTec is responding to the crisis with extensive additional measures to the existing cost-cutting program. This includes the establishment of contingency plans and a forward-looking safeguarding of the Company's liquidity. In connection with this, WashTec will also review its dividend proposal of March 11, 2020.
Contact:
WashTec AG
Corporate Communications
Axel Jaeger
Argonstrasse 7
86153 Augsburg
Tel.: +49 (0)821 - 5584 - 2090
Fax: +49 (0)821 - 55 84 - 1135
03-Apr-2020 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de
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WashTec AG DE0007507501