JOST Werke AG / Key word(s): Forecast
JOST expects the adjusted EBIT margin to improve in second half of 2020
- Due to the acquisition of Ålö, sales in 2020 expected to be only slightly below previous year despite strong negative impact of coronavirus pandemic
- Adjusted EBIT margin for full fiscal year 2020 expected to improve further compared to first half of 2020 (H1 2020: 7.0%).
Neu-Isenburg, September 1st, 2020. JOST Werke AG ("JOST"), a leading global producer and supplier of safety-critical systems for the commercial vehicle industry, announced today its new outlook for the fiscal year 2020.
Despite the severe negative impact of the coronavirus pandemic on the commercial vehicle market, JOST expects sales in fiscal year 2020 to decline only by a single-digit percentage range compared to previous year (sales 2019: EUR 736.7 million). This is mainly due to the positive effect of the first-time consolidation of the Ålö Group.
Year-on-year, consolidated adjusted EBIT will decrease more strongly than sales as a result of the negative impact of pandemic-related plant shutdowns in the first half of 2020 and the accompanying fixed cost effects (adjusted EBIT 2019: EUR 76.8 million). Accordingly, the adjusted EBIT margin in 2020 will be significantly lower than in the previous year (adjusted EBIT margin 2019: 10.4%). JOST expects, however, an improvement in the adjusted EBIT margin during the second half of 2020, so that for the full fiscal year it will be higher than in the first half of 2020 (adjusted EBIT margin H1 2020: 7.0%).
Consolidated adjusted EBITDA will develop slightly better than adjusted EBIT in 2020, though it will also contract significantly compared to the previous year (adjusted EBITDA 2019: EUR 100.8 million). On the back of this, the adjusted EBITDA margin in 2020 will decrease year-on-year but will still reach a double-digit percentage figure (adjusted EBITDA margin 2019: 13.7%).
This forecast is based on the assumption that there will be no further pandemic-related plant shutdowns at JOST or at key JOST customers in the remaining fiscal year 2020. It also assumes that national measures to contain the coronavirus pandemic will only be implemented on a regional level and that no further nationwide lockdowns will be imposed.
|Company:||JOST Werke AG|
|Phone:||+49 6102 2950|
|Fax:||+49 (0)6102 295-298|
|Listed:||Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Munich, Stuttgart, Tradegate Exchange|
|EQS News ID:||1125983|
|End of Announcement||DGAP News Service|