Stabilus S.A. / Key word(s): Quarter Results
Stabilus S.A.: Preliminary results for Q3 2020 significantly impacted by COVID-19 pandemic
Luxemburg/Koblenz, July 20, 2020 - In context of the COVID-19 pandemic affecting all its markets, Stabilus S.A. ("Stabilus", ISIN LU1066226637), according to preliminary figures, has generated group revenues of EUR 147.0 million for its third quarter of fiscal 2020, which represents a decrease of around 39 percent compared to the previous year quarter (Q3 FY2019: EUR 241.6 million). Adjusted EBIT amounted to EUR 5.7 million in Q3 FY2020 (Q3 FY2020: EUR 37.1 million). The operating result (EBIT) for the third quarter of 2020 was EUR -21.8 million (Q3 FY2020: EUR 29.5 million). The results were negatively impacted predominantly by one-off non-cash impairments of other intangible assets - in particular customer relationships recognized in the balance sheet - in the amount of EUR 25.7 million in the quarter under review. The reason for the impairments is the negative effect of the COVID-19 pandemic on the aviation segment, which is suffering from a significant reduction in product demand as a result of a decline in aircraft production as well as a decline in retrofitting of existing aircraft. Net profit for the quarter was at EUR -16.4 million (Q3 FY2020: EUR 19.3 million).
Stabilus will announce the final results for the third quarter of 2020 on August 3, 2020 when the quarterly statement is published.
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|End of Announcement||DGAP News Service|