March 17, 2020 / 11:07 AM / in 14 days

BRIEF-Max Automation FY Consolidated Operating Loss Narrows To EUR 0.9 Million

March 17 (Reuters) - MAX AUTOMATION SE:

* FY SALES GROWTH IS STRONG IN CORE BUSINESS, UP 21.5% TO MEUR 339.3 (12M 2018: MEUR 279.2)

* FY CONSOLIDATED OPERATING LOSS IMPROVES BY 95.6% TO A CONSOLIDATED EBITDA OF MEUR -0.9 (PREVIOUS YEAR: MEUR -20.3)

* 2019 CONSOLIDATED ANNUAL RESULT OF MEUR -35.5 (PREVIOUS YEAR: MEUR -43.6)

* FY EBITDA IN CORE BUSINESS INCREASES BY 133.7% TO MEUR 36.0 (12M 2018: MEUR 15.4)

* FY EBITDA IN NON-CORE BUSINESS OF MEUR -36.6 (12M 2018: MEUR -36.0) HAS A SIGNIFICANT NEGATIVE IMPACT ON GROUP AS A WHOLE

* BASED ON CURRENTLY AVAILABLE INFORMATION, MANAGEMENT OF MAX AUTOMATION ANTICIPATES SALES OF MEUR 380 - 410 AND EBITDA OF MEUR 16 - 20 FOR 2020 FINANCIAL YEAR

* REGARDING COVID-19, MANAGEMENT IS ASSUMING THERE WILL BE LITTLE ADVERSE EFFECTS ON BUSINESS DEVELOPMENT

* IN VIEW OF DYNAMIC SPREAD OF CORONA PANDEMIC, INDIVIDUAL DELAYS IN ORDER PLACEMENT AND COMMISSIONING, OR AS A RESULT OF BOTTLENECKS IN LOGISTICS, CANNOT BE RULED OUT Source text for Eikon: Further company coverage: (Gdansk Newsroom)

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