MAX Automation SE adjusts earnings expectations for full year 2018
MAX Automation SE / Key word(s): Profit Warning
MAX Automation SE, Düsseldorf
Düsseldorf, June 28, 2018 - MAX Automation SE, the high-tech mechanical engineering Group, has adjusted its earnings expectations for fiscal year 2018. This was due to charges from current projects for several automotive customers with the IWM Automation Group. An economic reassessment of these projects was carried out, determining that further adjustments are required. The Managing Directors of MAX Automation SE have immediately initiated a series of structural steps aimed particularly at improving project management. Furthermore, key positions at IWM Automation will be refilled. These steps will place an additional burden on earnings. The operating business development of all other subsidiaries of the MAX Group, on the other hand, remains in line with expectations thus far in 2018.
Due to the burdens on IWM Automation's earnings, the Managing Directors now expect consolidated earnings before interest and taxes (EBIT) and before PPA depreciations for 2018 to be between EUR 10 and 13 million (previously: at least EUR 26 million). Group sales for the current year are still expected to reach at least EUR 400 million (previous year: EUR 376.2 million).
MAX Automation SE, Breite Straße 29-31, 40213 Düsseldorf, Germany
|Company:||MAX Automation SE|
|Breite Straße 29-31|
|Phone:||+49 (0)211 90991-0|
|Fax:||+49 (0)211 90991-11|
|Listed:||Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange|
|End of Announcement||DGAP News Service|