May 5, 2020 / 4:55 AM / 3 months ago

BRIEF-OC Oerlikon Says Remains Committed To Mid-Term EBITDA Margin Target

May 5 (Reuters) - OC Oerlikon Corporation AG Pfaeffikon:

* OC OERLIKON CORPORATION AG PFAEFFIKON - Q1 GROUP ORDER INTAKE, SALES AND EBITDA WERE NEGATIVELY IMPACTED BY COVID-19 PANDEMIC DUE TO EXTENDED SHUTDOWNS IN CHINA AND BEGINNING OF LOCKDOWNS IN EUROPE.

* OC OERLIKON CORPORATION AG PFAEFFIKON - OERLIKON IS WITHDRAWING GUIDANCE FOR FULL YEAR 2020 DUE TO HIGH DEGREE OF MARKET UNCERTAINTY; OERLIKON REMAINS COMMITTED TO MID-TERM TARGET FOR GROUP EBITDA MARGIN OF 16% - 18%.

* OC OERLIKON CORPORATION AG PFAEFFIKON - Q1 GROUP EBITDA WAS AT CHF 58 MILLION, CORRESPONDING TO A MARGIN OF 11.0%.

* OC OERLIKON CORPORATION AG PFAEFFIKON - EBIT FOR Q1 2020 WAS AT CHF 6 MILLION, OR 1.1% OF SALES.

* OC OERLIKON CORPORATION AG PFAEFFIKON - Q1 GROUP SALES WERE 15.2% LOWER AT CHF 529 MILLION, ATTRIBUTED TO LOWER SALES ACROSS ALL REGIONS AND ADVERSE CURRENCY MOVEMENTS.

* OC OERLIKON CORPORATION AG PFAEFFIKON - REMAINS COMMITTED TO MID-TERM EBITDA MARGIN TARGET

* OC OERLIKON CORPORATION AG PFAEFFIKON - MANMADE FIBERS SEGMENT HAVE BEEN RUNNING AT FULL CAPACITY, AND SEGMENT IS CONFIDENT OF BEING ABLE TO FULFIL ITS DELIVERY SCHEDULES FOR 2020. Source text for Eikon: Further company coverage: (Gdansk Newsroom)

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