After two years of losses, Zumtobel AG fortunately posted a profit of 14.5 million euros in the business year May 2019 to April 2020 (read more here). I have to admit that I almost didn’t believe it anymore. I am not euphoric, however, since the effects of Corona can already be seen in the declining sales. I’m looking forward to the first quarter. With the second management level, the management board also wants to “identify potential savings”. To me, that sounds like downsizing. Currently, all 2,000 employees of the lamp manufacturer are on short-time work, which will continue until September.
CEO Alfred (Felder) does not want to give an outlook, but a dividend of 10 cents per share should be paid. Alfred is apparently convinced that Zumtobel AG is above the mountain. The Zumtobel family, which holds 37 percent of the company, is definitely pleased with the dividend.
The Zumtobel Group reached several important milestones during the 2019/20 financial year in spite of the noticeable effects of the Covid-19 pandemic. The company is again generating solid earnings. Adjusted Group EBIT nearly doubled to EUR 53.9 million. https://t.co/5KVreBsgNh pic.twitter.com/PahmXO0B5w
— Zumtobel Group (@zumtobelgroup) June 25, 2020
I think it’s good that fresh thoughts entered the Supervisory Board in March.
Dr Ing. Georg Pachta-Reyhofen and Prof. Dr Thorsten Staake will strengthen the Supervisory Board of the Zumtobel Group. Karin Zumtobel-Chammah was elected as Chairwoman and Georg Pachta-Reyhofen as Vice Chairman at today’s extraordinary General Meeting. https://t.co/dhbetmmfrp pic.twitter.com/7CaUg8ZrMg
— Zumtobel Group (@zumtobelgroup) May 18, 2020
–
