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BRIEF-Looser Holding 9-month revenue down at CHF 330.7 mln
November 3, 2015 / 7:52 AM / 2 years ago

BRIEF-Looser Holding 9-month revenue down at CHF 330.7 mln

Nov 3 (Reuters) - Looser Holding AG :

* Currency effects and reduced demand had a negative impact on revenues and results of operations

* 9-month net revenues 330.7 million Swiss francs ($335.26 million) (prior year: 370.8 million Swiss francs)

* 9-month EBITDA 36.8 million francs (prior year: 48.0 million francs)

* For full financial year Looser Holding expects a decline in revenues by 10 to 12 percent

* For full financial year expects reduced ebitda margin compared to prior year

* Demand weakened further in all product areas (wood, non-stick and packaging coatings)

* Looser Holding ag’s accounting standards will be changed from IFRS to Swiss GAAP FER

* Current economic environment in China had a negative impact on development of revenues Source text for Eikon: Further company coverage: ($1 = 0.9864 Swiss francs) (Gdynia Newsroom)

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