February 28, 2018 / 5:42 AM / 10 months ago

BRIEF-Sulzer FY OpEBITA Up 5% At CHF 255.4 Mln

Feb 28 (Reuters) - Sulzer AG:

* FY SALES AMOUNTED TO CHF 3,049.0 MILLION – AN INCREASE OF 5.2% (NOMINAL: 6.0%)

* RISE IN SALES WAS DRIVEN BY CHF 276.4 MILLION OF ACQUISITION-RELATED SALES, WHICH OFFSET AN ORGANIC SALES DECLINE OF 4.4%

* FY OPERATIONAL EBITA (OPEBITA) AMOUNTED TO CHF 255.4 MILLION COMPARED WITH CHF 238.9 MILLION IN 2016, AN INCREASE OF 5.3% (NOMINAL 6.9%)

* POSITIVE IMPACT OF THE SULZER FULL POTENTIAL (SFP) PROGRAM MORE THAN COMPENSATED FOR CONTINUING MARKET HEADWINDS

* PROGRAM WILL BE EXTENDED BY A YEAR AND THE TOTAL SAVINGS TARGET INCREASED TO CHF 230 MILLION

* TO PROPOSE AN UNCHANGED ORDINARY DIVIDEND OF CHF 3.50 AT THE ANNUAL GENERAL MEETING

* FOR THE FULL YEAR 2018, INCLUDING ACQUISITIONS SIGNED IN 2017 AND ADJUSTED FOR CURRENCY EFFECTS, ORDER INTAKE IS EXPECTED TO GROW BY 5 TO 7% AND SALES TO GROW BY 4 TO 6%

* EXPECTS OPEBITA MARGIN AT AROUND 9.5% (OPEBITA IN PERCENT OF SALES) FOR 2018

* AS PREVIOUSLY ANNOUNCED, THOMAS DITTRICH WILL STEP DOWN AS CFO AND BE REPLACED BY CURRENT BOARD MEMBER AND MEMBER OF THE AUDIT COMMITTEE JILL LEE ON APRIL 5, 2018

* THOMAS WILL DEPART SULZER ON MARCH 18, 2018

* APPOINTS SULZER’S CEO GREG POUX-GUILLAUME AD INTERIM CFO FOR THE TRANSITION PERIOD, IN ADDITION TO HIS EXISTING DUTIES

Source text - bit.ly/2t2MbIU

Further company coverage: (Gdynia Newsroom)

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