EQS-Adhoc: Conzzeta: Significant slowdown - consistent measures
EQS Group-Ad-hoc: Conzzeta / Key word(s): Quarterly / Interim Statement Interim information as of the end of Q1 2020 Zurich, April 17, 2020 - The Conzzeta Group posted net revenue of CHF 298.4 million for the first three months of 2020. Organically it was down 14.5% on the previous year. On the same basis, order intake in the Sheet Metal Processing segment dropped by 19.8%. The downturn in business across all regions was primarily due to disruptions in the production and sales channels caused by the coronavirus pandemic. In the Sheet Metal Processing and Chemical Specialties segments, plants had to be shut down in China, Italy, France and partly the USA, amongst other things. In the Outdoor segment, closure of the retail stores meant the loss of the main sales channel.
1 At constant exchange rates and adjusted for changes in the scope of consolidation. Staggered in time in the various regions, the majority of customers and employees is directly affected by the worldwide efforts to contain the pandemic. Conzzeta has introduced consistent measures to cushion the economic and social impacts, including by making use of the support mechanisms offered. The different business units are expanding their range of digital services and solutions in the current situation. With extensive liquid assets and a high equity ratio, Conzzeta is well positioned to implement important initiatives consistently and respond quickly and flexibly to future developments. From the sale of the Business Unit Schmid Rhyner as per the end of February 2020, Conzzeta expects a divestment gain of around CHF 45 million for the first half of 2020. Inquiries About Conzzeta End of ad hoc announcement |
Language: | English |
Company: | Conzzeta |
Giesshübelstrasse 45 | |
8045 Zürich | |
Switzerland | |
Phone: | +41 44 468 24 49 |
Fax: | +41 44 468 24 53 |
E-mail: | [email protected] |
Internet: | www.conzzeta.com |
ISIN: | CH0244017502 |
Valor: | A117LR |
Listed: | Regulated Unofficial Market in Berlin, Frankfurt, Stuttgart; SIX Swiss Exchange |
EQS News ID: | 1023183 |
End of Announcement | EQS Group News Service |
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1023183 17-Apr-2020 CET/CEST