DGAP-Adhoc
R. STAHL is reducing its forecast for 2015 and adopting a comprehensive set of measures to safeguard competitiveness over the long term
R. Stahl AG / Key word(s): Change in Forecast/Miscellaneous
06.10.2015 11:26
Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted
by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
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ADHOC RELEASE pursuant to Article 15 Securities Trading Act (WpHG)
R. STAHL is reducing its forecast for 2015 and adopting a comprehensive set
of measures to safeguard competitiveness over the long term
Waldenburg, 6 October 2015 - R. STAHL AG today announced that it is
reducing the forecast for 2015. The reason for this is the continuously low
oil price. This has resulted in the oil and gas industry - the most
important customer sector for R. STAHL accounting for around 50% of sales -
significantly reducing its investments. It is the sharpest decline in
investments since the oil crisis 30 years ago. The company is therefore
expecting a decline in order intake as well as sales and earnings during
the second half of 2015. No recovery of the oil and gas market is
foreseeable for 2016.
For the fiscal year 2015, the Executive Board is adjusting the forecast
corridor for order intake and sales from between EUR 320 million and EUR
330 million down to between EUR 300 million and EUR 310 million.
Expectations for EBIT are reduced from between EUR 16 million and EUR 20
million down to between EUR 2 million and EUR 5 million. These figures
include one-off costs amounting to EUR 8 million from the implementation of
the set of measures. By adjusting the forecast, the Executive Board reacts
to a market environment which has recently deteriorated drastically.
For 2016, the Executive Board is anticipating a sustained low investment
volume in the oil and gas industry and is therefore planning sales in the
range of EUR 280 million to EUR 290 million with an EBIT margin in the
amount of 5 % to 7 %.
R. STAHL AG has adopted a comprehensive set of measures with the objective
of counteracting the tense economic development, and strengthening and
safeguarding competitiveness over the long term. During the fiscal year
2016, the company expects this to yield cost-savings in the amount of about
EUR 20 million. A total of 225 jobs will be cut worldwide as a result of
the personnel measures. The company will continue to drive ongoing
initiatives to generate additional business in industry sectors chemicals,
pharmaceuticals and marine with the aim of further reducing dependency on
the oil price. In addition, the product portfolio will be streamlined and
products for which demand is less strong will be removed. Today, the
Supervisory Board of R. STAHL AG granted the required consent to the set of
measures and the adjusted forecast in an extraordinary meeting.
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Information and Explaination of the Issuer to this News:
For further information:
R. STAHL AG
Am Bahnhof 30, 74638 Waldenburg (Württ.)
Bernd Marx (CFO)
Phone: +49 7942 943-1271
Nathalie Kamm (Investor Relations)
Phone: +49 7942 943-1395
E-mail: investornews@stahl.de
06.10.2015 The DGAP Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
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Language: English
Company: R. Stahl AG
Am Bahnhof 30
74638 Waldenburg
Germany
Phone: +49 (7942) 943-0
Fax: +49 (7942) 943-4333
E-mail: info@stahl.de
Internet: www.stahl.de
ISIN: DE000A1PHBB5
WKN: A1PHBB
Listed: Regulated Market in Frankfurt (Prime Standard), Stuttgart;
Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg,
Munich
End of Announcement DGAP News-Service
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R. STAHL is reducing its forecast for 2015 and adopting a comprehensive set
of measures to safeguard competitiveness over the long term
Waldenburg, 6 October 2015 - R. STAHL AG today announced that it is
reducing the forecast for 2015. The reason for this is the continuously low
oil price. This has resulted in the oil and gas industry - the most
important customer sector for R. STAHL accounting for around 50% of sales -
significantly reducing its investments. It is the sharpest decline in
investments since the oil crisis 30 years ago. The company is therefore
expecting a decline in order intake as well as sales and earnings during
the second half of 2015. No recovery of the oil and gas market is
foreseeable for 2016.
For the fiscal year 2015, the Executive Board is adjusting the forecast
corridor for order intake and sales from between EUR 320 million and EUR
330 million down to between EUR 300 million and EUR 310 million.
Expectations for EBIT are reduced from between EUR 16 million and EUR 20
million down to between EUR 2 million and EUR 5 million. These figures
include one-off costs amounting to EUR 8 million from the implementation of
the set of measures. By adjusting the forecast, the Executive Board reacts
to a market environment which has recently deteriorated drastically.
For 2016, the Executive Board is anticipating a sustained low investment
volume in the oil and gas industry and is therefore planning sales in the
range of EUR 280 million to EUR 290 million with an EBIT margin in the
amount of 5 % to 7 %.
R. STAHL AG has adopted a comprehensive set of measures with the objective
of counteracting the tense economic development, and strengthening and
safeguarding competitiveness over the long term. During the fiscal year
2016, the company expects this to yield cost-savings in the amount of about
EUR 20 million. A total of 225 jobs will be cut worldwide as a result of
the personnel measures. The company will continue to drive ongoing
initiatives to generate additional business in industry sectors chemicals,
pharmaceuticals and marine with the aim of further reducing dependency on
the oil price. In addition, the product portfolio will be streamlined and
products for which demand is less strong will be removed. Today, the
Supervisory Board of R. STAHL AG granted the required consent to the set of
measures and the adjusted forecast in an extraordinary meeting.
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Information and Explaination of the Issuer to this News:
For further information:
R. STAHL AG
Am Bahnhof 30, 74638 Waldenburg (Württ.)
Bernd Marx (CFO)
Phone: +49 7942 943-1271
Nathalie Kamm (Investor Relations)
Phone: +49 7942 943-1395
E-mail: investornews@stahl.de
06.10.2015 The DGAP Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
---------------------------------------------------------------------------
Language: English
Company: R. Stahl AG
Am Bahnhof 30
74638 Waldenburg
Germany
Phone: +49 (7942) 943-0
Fax: +49 (7942) 943-4333
E-mail: info@stahl.de
Internet: www.stahl.de
ISIN: DE000A1PHBB5
WKN: A1PHBB
Listed: Regulated Market in Frankfurt (Prime Standard), Stuttgart;
Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg,
Munich
End of Announcement DGAP News-Service
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