May 5, 2020 / 5:05 AM / a month ago

CORRECTED-Oerlikon withdraws 2020 guidance due to market uncertainty

(Corrects EBITDA figure in paragraph 3)

May 5 (Reuters) - Swiss industrial group OC Oerlikon withdrew on Tuesday its full-year guidance, citing a high degree of market uncertainty over the coronavirus crisis.

The group previously expected order intake and sales of between 2.5 billion and 2.6 billion Swiss francs ($2.6 billion to $2.7 billion) and earnings before interest, taxes, amortisation and depreciation (EBITDA) margin before exceptional items to improve to 15.0% to 15.5%.

In the first quarter, Oerlikon reported EBITDA falling 38% to 58 million francs, which was above the expectations in a company-compiled consensus of 51 million francs. ($1=0.9655 Swiss francs) (Reporting by Bartosz Dabrowski in Gdansk; Editing by Clarence Fernandez)

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