March 4, 2020 / 6:12 AM / 3 months ago

BRIEF-Autoneum FY Net Loss At CHF 77.7 Mln

March 4 (Reuters) - AUTONEUM HOLDING AG:

* IN SWISS FRANCS, FY REVENUE ROSE SLIGHTLY TO CHF 2297.4 MILLION

* IN 2019, AUTONEUM GREW ORGANICALLY BY 2.5% AND HAS THEREBY SIGNIFICANTLY OUTPERFORMED THE DECLINING MARKET

* FY NET LOSS OF CHF –77.7 MILLION

* PROPOSES THAT NO DIVIDEND BE DISTRIBUTED FOR THE 2019 FINANCIAL YEAR

* BASED ON NEW TURNAROUND PROGRAM LAUNCHED IN NORTH AMERICA, SIGNIFICANT PROFITABILITY INCREASES ARE EXPECTED FOR 2020

* FY EBITDA EXCLUDING IFRS 16 EFFECTS DECREASED TO CHF 126.0 MILLION (2018: CHF 197.2 MILLION)

* ONE-TIME CHARGES FROM IMPAIRMENTS IN AMOUNT OF CHF –68.0 MILLION HAD NEGATIVE IMPACT ON FY EBIT, REDUCING IT TO CHF –32.9 MILLION

* EXPECTS REVENUE GROWTH AT MARKET LEVEL IN 2020

* BASED ON FURTHER OPERATIONAL AND FINANCIAL IMPROVEMENTS IN 2021, SEES RETURN TO SOUND PROFITABILITY LEVEL IN 2022 Source text: bit.ly/2THcIps Further company coverage: (Gdansk Newsroom)

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