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ADVA Optical Networking SE: Preliminary results for the second quarter of 2022 below the previous year and analyst consensus

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ADVA Optical Networking SE / Key word(s): Preliminary Results
ADVA Optical Networking SE: Preliminary results for the second quarter of 2022 below the previous year and analyst consensus

15-Jul-2022 / 16:54 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.

ADVA Optical Networking SE: Preliminary results for the second quarter of 2022 below the previous year and analyst consensus

Munich, Germany. 15 July, 2022. During the preparation of the six-month report 2022 of ADVA Optical Networking SE (FSE: ADV), the preliminary financial results for the second quarter show deviations from both the year-ago quarter results and the available consensus of the financial analysts.

For this reason, ADVA Optical Networking SE is publishing the following preliminary financial results for the past second quarter of 2022:

  • Preliminary revenues were EUR 166.3 million, up by 11.4% year-on-year (Q2 2021: EUR 149.4 million) and 2.9% below analyst expectations for Q2 2022 (analyst consensus Q2 2022: EUR 171.4 million)

  • Preliminary pro forma EBIT was EUR 6.4 million, down by 55.4% compared to Q2 2021 (Q2 2021:
    EUR 14.4 million) and 38.4% below analyst expectations for Q2 2022 (analyst consensus Q2 2022: EUR 10.5 million)

  • Preliminary pro forma EBIT margin was 3.9%, down by 5.8 percentage points compared to the year-ago quarter (Q2 2021: 9.7%) and 2.2 percentage points below analyst expectations for Q2 2022 (analyst consensus Q2 2022: EUR 6.1%)

The unexpected deviation in profitability from the current analyst consensus and year-ago quarter is primarily due to an unexpected customer request to postpone a delivery that occurred in the second quarter to a later time.

Due to the significant US dollar appreciation and continued higher procurement costs than originally expected, the management board decided today to adjust the outlook for the full year 2022. It now expects revenues of between EUR 680 and EUR 730 million (prior: between EUR 650 and EUR 700 million) and a pro forma EBIT margin of between 5% and 9% (prior: between 6% and 10%).

This information is based on preliminary and unaudited group figures. The final results for the first half of 2022 will be published as planned on 28 July, 2022.

 

Disclaimer
To the extent any announcements in this document contain forward-looking statements, such statements do not represent facts and are characterized by the words “will”, “expect”, “believe”, “estimate”, “intend”, “aim”, “assume” or similar expressions. Such statements express the intentions, opinions or current expectations and assumptions of ADVA and the persons acting jointly with ADVA. Such forward-looking statements are based on current plans, estimates and forecasts, which ADVA and the persons acting jointly with ADVA have made to the best of their knowledge, but which they do not claim to be correct in the future. Forward-looking statements are subject to risks and uncertainties that are difficult to predict and usually cannot be influenced by ADVA or the persons acting jointly with ADVA . These expectations and forward-looking statements can turn out to be incorrect and the actual events or consequences may differ materially from those contained in or expressed by such forward-looking statements.

 

Published by:

ADVA Optical Networking SE, Munich, Germany

www.adva.com

 

Notifying person and contact for Investors:

Steven Williams

t +49 89 890 66 59 18

investor-relations@adva.com

 

Contact for press:

Gareth Spence

t +44 1904 69 93 58

public-relations@adva.com

 

15-Jul-2022 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de

Language:

English

Company:

ADVA Optical Networking SE

Märzenquelle 1-3

98617 Meiningen-Dreissigacker

Germany

Phone:

+49 89 890 665 0

Fax:

+49 89 890 665 199

E-mail:

IRelation@advaoptical.com

Internet:

www.advaoptical.com

ISIN:

DE0005103006

WKN:

510300

Indices:

SDAX

Listed:

Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange

EQS News ID:

1399293


 

End of Announcement

DGAP News Service

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