June 28, 2018 / 5:40 AM / 4 months ago

BRIEF-Zumtobel Group FY Net Loss At EUR 46.7 Million

June 28 (Reuters) - Zumtobel Group AG:

* PTA-ADHOC: ZUMTOBEL GROUP AG: PROFITABILITY IMPACTED BY REVENUE DECLINES AND INTENSE PRICE COMPETITION

* RECORDED A YEAR-ON-YEAR DECLINE OF 8.2% IN REVENUES TO EUR 1,196.5 MILLION FOR 2017/18

* NET PROFIT FELL FROM EUR 25.2 MILLION IN PREVIOUS YEAR TO MINUS EUR 46.7 MILLION IN 2017/18

* FY GROUP EBIT ADJUSTED FOR SPECIAL EFFECTS TO EUR 19.7 MILLION (2016/17: EUR 72.4 MILLION)

* NO DISTRIBUTION OF DIVIDENDS IS PLANNED FOR 2017/18 FINANCIAL YEAR

* EXPECTS A FURTHER DECLINE IN REVENUES, ESPECIALLY DURING FIRST HALF-YEAR

* FOR 2018/19, MANAGEMENT BOARD HAS SET TARGET OF GENERATING A SLIGHT YEAR-ON-YEAR IMPROVEMENT IN ADJUSTED GROUP EBIT

* FURTHER NON-RECURRING CHARGES ASSOCIATED WITH STRATEGIC REALIGNMENT ARE HIGHLY PROBABLE IN COMING QUARTERS

* ZUMTOBEL GROUP - WILL PRESENT NEW STRATEGY FOR MANAGEMENT OF GROUP AS WELL AS REVISED MEDIUM-TERM OBJECTIVES AT LATEST BY 4 SEPT Source text for Eikon: Further company coverage: (Gdynia Newsroom)

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