EQS-Adhoc: Lalique Group specifies its outlook for 2019
EQS Group-Ad-hoc: Lalique Group SA / Key word(s): Forecast MEDIA RELEASE Lalique Group specifies its outlook for 2019 While sales in the Ultrasun, Grès, Jaguar and other brands segments as well as the Lalique crystal business continued to grow in line with expectations in the year to date, the company foresees a pronounced shortfall in higher-margin sales at Lalique Parfums in the Middle East for the full year 2019. As previously explained, the difficult market and operating conditions in the Middle East, including the embargo in Iran that forced Lalique Group to discontinue its business activities in the country, had already impacted Lalique and in particular Lalique Parfums sales in the first half of 2019. This situation has exacerbated in the second half of the year to date, hampering profitability. The lower profitability expected in 2019 compared to 2018 also reflects the planned continued expenses in the Lalique segment for the business expansion in Japan, China and the US, in addition to the operating loss of The Glenturret and one-off costs related to the acquisition in the first half of the year, as envisaged and announced previously. Also, macroeconomic uncertainties and political unrest in Hong Kong are increasingly affecting business performance. Against this backdrop, Lalique Group expects an estimated EBIT of around Lalique Group confirms that it expects to conclude an agreement for an additional perfume license in the second half of 2019, as previously communicated. Lalique Group remains committed to delivering on its strategic initiatives and believes that with its diversification strategy, it is well positioned to serve a broad international target clientele in the luxury goods market. With a view to prioritize profitability, the company expects markedly improved results for 2020 compared to 2019, reflecting tighter cost control, progress of the businesses in Asia and the US, as well as stabilisation in the Middle East as a result of steps being taken to realign distribution and marketing activities in the region.
Phone: +41 43 499 45 58
You can find further information at: www.lalique-group.com. End of ad hoc announcement |
Language: | English |
Company: | Lalique Group SA |
Grubenstrasse 18 | |
8045 Zürich | |
Switzerland | |
Phone: | 043 499 45 00 |
Fax: | 043 499 45 03 |
E-mail: | [email protected] |
Internet: | www.lalique-group.com |
ISIN: | CH0033813293 |
Valor: | A0M1KL |
Listed: | SIX Swiss Exchange |
EQS News ID: | 893579 |
End of Announcement | EQS Group News Service |
|
893579 21-Oct-2019 CET/CEST