February 26, 2020 / 6:09 AM / a month ago

BRIEF-Georg Fischer FY EBIT Amounted To CHF 281 Mln

Feb 26 (Reuters) - Georg Fischer AG:

* FY SALES AMOUNTED TO CHF 3'720 MILLION (2018: CHF 4'572 MILLION), A DECLINE OF 18.6%

* FY OPERATING RESULT (EBIT) AMOUNTED TO CHF 281 MILLION BEFORE ONE-OFF ITEMS COMPARED TO CHF 382 MILLION IN 2018

* FY NET PROFIT AFTER MINORITIES AMOUNTED TO CHF 173 MILLION (2018: CHF 281 MILLION)

* TO FOCUS ON IMPLEMENTATION OF ITS STRATEGIC THRUSTS AND ACCELERATION OF STRATEGIC TRANSFORMATION AT GF CASTING SOLUTIONS

* TRANSFORMATION OF DIVISION IS AN ONGOING PART OF STRATEGY AND IS ANTICIPATED TO BE FINISHED IN YEAR 2021

* IN 2020, GF TO STRENGTHEN ITS FOCUS ON INNOVATION, SPEED AND OPERATIONAL EXCELLENCE

* PROACTIVELY LAUNCHED AN AGILITY PROGRAM ADDRESSING THESE TOPICS

* INITIATIVES IN TRANSITION YEAR 2020 WILL SET A SOLID BASE FOR NEW GF STRATEGY CYCLE 2025

* SEES TO IMPROVE FUTURE RESULTS AND BRING GF'S PERFORMANCE BACK TOWARDS ITS STRATEGIC TARGETS (EBIT MARGIN 9-10%, ROIC 20-24%) Source text for Eikon: Further company coverage: (Gdansk Newsroom)

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