Business The industrial Klingelnberg leaded by the economic situation and...

The industrial Klingelnberg leaded by the economic situation and the sars coronavirus

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The industrial Klingelnberg leaded by the economic situation and the sars coronavirus

Wednesday, 17.06.2020

In the end, Klingelnberg closed its accounts with a deficit of 25.4 million euros, against a profit of 19.2 million in 2018/19. (Keystone)

Torpillées by the stroke of a soft cycle, and then by the crisis of coronavirus, the annual sales of the industrial group Klingelnberg contracted by almost a quarter. The zurich completes its non-calendar fiscal year 2019/20 in the red.

During the first six months of the year, the zurich company, has been challenged by the downturn in the economy, in particular in the automotive sector, “which has had significant implications for the whole of the industrial production”, while the last quarter was stifled by the effects of the health crisis.

The annual turnover has fallen from 23.8% to 212,1 million euros (224 million swiss francs), despite the new contracts, says the group in a statement Wednesday. The operating result (Ebit) plunged to negative territory (-18,8 million), compared to a gain of $ 30.0 million a year earlier.

In the end, Klingelnberg closed its accounts with a deficit of 25.4 million euros, against a profit of 19.2 million in 2018/19. In the meantime, the company will ask its shareholders to pass the dividend, in order to maintain the financial resources necessary for the development of new products and services.

The copy made by the industrial zurich is considerably lower than the projections of the analysts consulted, in particular at the level of operational performance, expected between -3,4 and-7.8 million euros.

For the current fiscal year, the management believes that given the current global situation, it is impossible to formulate reliable forecasts, which is why Klingelnberg will waive forecasts “until further notice”.(awp)

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