March 27, 2020 / 6:07 AM / 8 days ago

BRIEF-Adval Tech Holding FY EBITDA At CHF 18.4 Mln

March 27 (Reuters) - ADVAL TECH HOLDING AG:

* FY EBITDA TOTALED CHF 18.4 MILLION (2018: CHF 20.7 MILLION, -11.1%)

* FY TOTAL INCOME WAS CHF 178.9 MILLION (2018: CHF 198.2 MILLION, -9.7%)

* FY EBIT CAME TO CHF 10.3 MILLION (2018: CHF 12.4 MILLION, -16.9%)

* NET PROFIT FOR 2019 AMOUNTED TO CHF 8.7 MILLION (2018: CHF 8.8 MILLION, -1.1%)

* IS NOT GIVING SPECIFIC GUIDANCE ON TOTAL INCOME AND EBIT IN 2020 DUE CORONAVIRUS IMPACT

* AFTER EIGHT YEARS AS CHAIRMAN OF BOARD OF DIRECTORS, WILLY MICHEL WILL NOT BE STANDING FOR RE-ELECTION AT 2020 ANNUAL GENERAL MEETING

* RENÉ ROTHEN WOULD ALSO TAKE OVER AS CHAIRMAN OF BOARD OF DIRECTORS

* SITES IN NIEDERWANGEN (SWITZERLAND) AND ENDINGEN (GERMANY) AND TWO PRODUCTION FACILITIES IN HUNGARY WILL CONTINUE TO OPERATE AT A MINIMUM PRODUCTION LEVEL

* IS TEMPORARILY CLOSING DOWN ITS PRODUCTION ACTIVITIES AT SEVERAL SITES UNTIL FURTHER NOTICE

* SITES IN NIEDERWANGEN (SWITZERLAND) AND ENDINGEN (GERMANY) AND TWO PRODUCTION FACILITIES IN HUNGARY WILL CONTINUE TO OPERATE AT A MINIMUM PRODUCTION LEVEL

* HAS BROUGHT IN SHORT-TIME WORKING AT SOME COMPANIES, OPERATIONS AND DEPARTMENTS, OR WILL DO SO IN NEAR FUTURE Source text for Eikon: Further company coverage: (Gdansk Newsroom)

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