MAX Automation SE withdraws forecast for current fiscal year due to COVID 19 pandemic

MAX Automation SE / Key word(s): Change in Forecast
MAX Automation SE withdraws forecast for current fiscal year due to COVID 19 pandemic

29-Apr-2020 / 16:53 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.



MAX Automation SE withdraws forecast for current fiscal year due to COVID 19 pandemic

Dusseldorf, 29 April 2020 - Due to the unprecedented operational and financial challenges posed by the spread of COVID-19 and the continuing very dynamic developments in the wake of the pandemic, the Board of Directors does not maintain the forecast for the current financial year published on 17 March 2020 with the 2019 annual financial statements (sales at group level between EUR 380 million and EUR 410 million with EBITDA between EUR 16 million and EUR 20 million). At present, the economic impact of the pandemic can neither be determined in detail nor reliably quantified. However, based on current developments, the Group does not expect sales and earnings to be achieved as forecast.

The first quarter of 2020 was not yet strongly influenced by the corona crisis. Based on preliminary calculations, the Group expects revenues of around EUR 80 million (2019: EUR 87 million) and operating earnings before interest, taxes, depreciation and amortization (EBITDA) of around EUR 0.3 million (2019: EUR -0.5 million) for the first quarter of 2020.

Immediately after the announcement of the measures to contain the pandemic in Germany, the MAX Group set up a crisis task force within the Management Board, which continuously analyses and evaluates the situation and takes decisions on this basis in the coming months. Several measures have already been decided upon to keep the risks for the MAX Group as low as possible while at the same time ensuring the ability to act. The subsidiaries are largely maintaining their respective operations, also in order to be able to restart production as flexibly as possible. The health and safety of the employees have the highest priority here. The Group's liquidity position ensures sufficient flexibility despite increased net debt in 2019.

MAX Automation SE will report its first-quarter results 2020 on 13 May 2020.

Katja Redweik
Head of Corporate Development/IR
MAX Automation SE
Tel.: +49 - 211 - 9099 144

Contact for media representatives:

Susan Hoffmeister   Marco Cabras
CROSS ALLIANCE communication GmbH   newskontor - Agentur für Kommunikation
Tel.: +49 - 89 - 125 09 03 30   Tel.: +49 - 211 - 863 949 22

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