DGAP-Adhoc: Softing AG Suspends Forecast for 2020
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DGAP-Ad-hoc: Softing AG / Key word(s): Change in Forecast
Softing AG Suspends Forecast for 2020
19-Jun-2020 / 12:59 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.
With respect to the COVID-19 pandemic, the managing board of Softing AG has determined today that the financial forecast as given in the Q1-2020 report concerning EBIT, operational EBIT and sales equal to the previous fiscal year may not be achieved.
Deliveries of products and projects of lead customers, which had been the basis for the previous forecast, are partially stretched into the year 2021 or may be shifted to 2021 completely. Such, a fast and significant recovery of the world economy as assumed in the Q1-2020 report has to be questioned.
We are pleased with the robust cash situation at Softing AG. This in combination with strict cost management enables the company to proceed with all its major product developments and product enhancements.
Our internal forecast scatters between reaching the previous forecast and a significant reduction thereof due to the inherent uncertainty of the duration and the consequences of the COVID-19 pandemic. Therefore, a reliable forecast for sales and profit cannot be given at this point in time.
Contact:
Dr. Wolfgang Trier
CEO
19-Jun-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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| Language: |
English |
| Company: |
Softing AG |
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Richard-Reitzner-Allee 6 |
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85540 Haar |
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Germany |
| Phone: |
+49 (0)89 456 56-333 |
| Fax: |
+49 (0)89 456 56-399 |
| E-mail: |
[email protected] |
| Internet: |
www.softing.com |
| ISIN: |
DE0005178008 |
| WKN: |
517800 |
| Listed: |
Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange |
| EQS News ID: |
1074325 |
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| End of Announcement |
DGAP News Service |
1074325 19-Jun-2020 CET/CEST
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Softing AG DE0005178008