November 12, 2019 / 5:47 AM / a month ago

BRIEF-Klingelnberg H1 EBIT Of EUR -10.0 Mln

Nov 12(Reuters) - KLINGELNBERG AG:

* H1 2019/20 NET SALES DECLINE BY EUR 10.7 MILLION TO EUR 88.4 MILLION

* H1 EBIT OF EUR -10.0 MILLION WAS AROUND EUR 5.3 MILLION BELOW COMPARABLE FIGURE FOR PREVIOUS YEAR

* SAYS DECLINE IN SALES AND EARNINGS IS DUE TO INVESTMENT BACKLOGS IN KEY CUSTOMER SECTORS

* EXPECTS FY SALES TO DECLINE AROUND 15–20 % WITH A POSITIVE OPERATING RESULT

* SAYS FY EXPECTATIONS DO NOT TAKE INTO ACCOUNT POTENTIAL ONE-OFF EXPENSES FOR EFFICIENCY ENHANCEMENT PROGRAM AS PUBLISHED ON OCT. 14

Source text - bit.ly/32F1Hay

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