February 27, 2020 / 6:03 AM / a month ago

BRIEF-Gurit Holding Sees Single-Digit Organic Growth To CHF 600 Mln In 2020

Feb 27 (Reuters) - Gurit Holding AG:

* FY NET SALES 2019 OF CHF 576.4 MILLION, A CURRENCY-ADJUSTED INCREASE OF 38.6% VERSUS 2018

* NET PROFIT AMOUNTED TO CHF 34.9 MILLION IN 2019

* EXPECTS A SINGLE-DIGIT ORGANIC REVENUE GROWTH TO CHF 600 MILLION IN 2020

* EXPECTS TO ACHIEVE AN OPERATING PROFIT IN RANGE OF 8.5-11.0% FOR FISCAL YEAR 2020

* NET SALES GUIDANCE DOES CONSIDER DIVESTMENT OF AUTOMOTIVE BUSINESS EFFECTIVE FEBRUARY 1, 2020

* OPERATING PROFIT GUIDANCE PROVIDED ASSUMES NEGATIVE EFFECT OF CORONA VIRUS TRIGGERED BUSINESS INTERRUPTION IN CHINA IN FEBRUARY

* IF BUSINESS IMPACT OF CORONA VIRUS LASTS LONGER, EFFECT ON SALES AND OPERATING PROFIT MARGINS WOULD BE MORE SEVERE Source text for Eikon: Further company coverage: (Gdansk Newsroom)

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