March 5, 2020 / 5:43 AM / 3 months ago

BRIEF-Ascom Proposes Not To Pay Out A Dividend For 2019

March 5 (Reuters) - Ascom Holding AG:

* FY NET REVENUE OF CHF 282.9 MILLION, DECLINE OF 8.5% AT CONSTANT CURRENCIES

* ORDER BACKLOG AS OF 31 DECEMBER 2019 AT CHF 177.5 MILLION, INCREASE OF 22% AT CONSTANT CURRENCIES

* FY EBITDA AT CHF 0.8 MILLION, DUE TO LOWER REVENUE, HIGH COST BASE AND RESTRUCTURING COSTS

* NEW GROUP STRUCTURE AND COST SAVINGS PROGRAM

* 2020 TARGETS: LOW SINGLE DIGIT REVENUE GROWTH (AT CONSTANT CURRENCIES) WITH A HIGH SINGLE DIGIT EBITDA MARGIN

* COMPREHENSIVE COST-SAVING PROGRAM HAS BEEN INITIATED IN ORDER TO REDUCE ANNUAL COST BASE BY CHF 10 TO 15 MILLION

* PROPOSES NOT TO PAY OUT A DIVIDEND FOR 2019 ACCORDINGLY.

* EXPECTS 2020 TO BECOME A CHALLENGING YEAR OF TRANSITION Source text - bit.ly/2wy3Dad Further company coverage: (Gdansk Newsroom)

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