Brilliant AG: Brilliant Group Revises 2023 Sales and Earnings Projections

• Brilliant AG adjusts sales and earnings forecast for 2023
• The company announces that the sales and earnings planning of EUR 74.4 million and EUR 5.5 million respectively for the 2023 financial year cannot be met
• The Management Board is now forecasting consolidated sales of between EUR 67.0 million and EUR 69.0 million and a consolidated net profit of between EUR 2.3 million and EUR 2.6 million for the current 2023 financial year
• In the first half of 2023, planned sales had not been achieved due to consumers' cautious purchasing behaviour
• The company's usual seasonal business in the third and fourth quarters is weaker than usual and planned due to intensified consumer restraint
• Customers are again delaying the agreed orders, leading to additional costs in the warehouse area due to higher inventories, and rising interest rates and higher freight costs are also contributing to the necessary adjustments.