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BRIEF-SHW FY sales down 12 pct at 405.8 million euros
March 24, 2017 / 6:34 AM / 8 months ago

BRIEF-SHW FY sales down 12 pct at 405.8 million euros

March 24 (Reuters) - SHW AG:

* Dividend proposal: 1.00 euro per share

* Significant improvement in sales and margins from 2018

* Based on expected economic and industry environment and while considering potential risks and opportunities, management board of SHW expects group sales of 400 million to 420 million euros in fiscal year 2017

* Expects an EBITDA margin of 10.0 percent to 11.0 percent (previous year 10.7 percent) for fiscal year 2017 as a whole

* FY group sales came to 405.8 million euros ($436.92 million)and were thereby down by 12 percent (previous year 463.5 million euros)

* From 2018 onwards, company once again expects a significant increase in sales and earnings

* Within scope of its “SHW 2020” strategy, sales are to be increased to 620 million to 650 million euros in period up until 2020

* At 43.6 million euros, FY EBITDA adjusted were slightly higher than previous year’s result of 43.5 million euros

* From 2018 company plans to reduce capital expenditure to a level of between approx. 5 and 6 per cent of group sales

* FY groups’ net profit declined by almost 11 per cent to 12.8 million euros (previous year 14.4 million euros) due to higher depreciation Source text for Eikon: Further company coverage: ($1 = 0.9288 euros) (Gdynia Newsroom)

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