- Interim information as of the end of Q1 2019
- Expected slowdown compared to strong previous-year quarter
ZURICH / ACCESSWIRE / April 15, 2019 / The Conzzeta Group (SIX:CON) posted net revenue of CHF 394.4 million over the first 3 months of 2019, 8.4% less than in the strong first quarter last year. Adjusted for currency translation effects and changes in the scope of consolidation, revenue fell by 9.1%. For continuing operations, i.e. without the Glass Processing segment divested as of March 31, 2019, revenue fell by 6.3%. Order intake in the Sheet Metal Processing segment came to CHF 222.2 million, which was an 8.0% drop compared to last year.
| CHF m | 3M 2019 | 3M 2018 | Chg. in % |
| Group net revenue | 394.4 | 430.6 | -8.4 |
| comparable1 | -9.1 | ||
| Continuing operations | |||
| Sheet Metal Processing order intake | 222.2 | 241.5 | -8.0 |
| Net revenue | 372.1 | 397.0 | -6.3 |
| Sheet Metal Processing | 207.9 | 224.4 | -7.4 |
| Chemical Specialties | 93.5 | 102.3 | -8.6 |
| Outdoor | 70.8 | 70.6 | +0.3 |
1 At constant exchange rates and adjusted for changes in the scope of consolidation.
For the continuing operations, net revenue varied regionally in a more demanding market environment, with lower revenues in Asia and Europe contrasting with growth in America. In the Sheet Metal Processing segment, order intake in America and Asia came in below the previous year's figures, with Asia bouncing back toward the end of the quarter. In Europe, order intake rose.
Overall, business trends in the first quarter were in line with the outlook provided for 2019, with flat revenue for continuing operations. They reflect the base effect of the exceptionally strong first quarter last year in all segments.
The substantial capital gain for the first half of 2019 communicated with the sale of the Glass Processing segment on April 1 is currently estimated at CHF 28 to 31 million.
Notes
Further information can be found at www.conzzeta.com.
Annual Report online: report.conzzeta.com.
Inquiries
Michael Stäheli, Head Investor Relations & Corporate Communications;
Tel. +41 44 468 24 49; media@conzzeta.com
About Conzzeta
Conzzeta is a broadly diversified Swiss group of companies. It stands for innovation, market orientation and an entrepreneurial approach. Conzzeta strives for leading positions in its target markets, above-average growth and long-term value creation. Over 5,200 employees at more than 60 locations worldwide work in the Sheet Metal Processing, Foam Materials, Graphic Coatings and Outdoor segments. Conzzeta AG is listed on the SIX Swiss Exchange (SIX:CON).
SOURCE: Conzzeta
View source version on accesswire.com:
https://www.accesswire.com/541964/Conzzeta-Expected-slowdown-compared-to-strong-previous-year-quarter
