March 24, 2020 / 12:37 AM / 8 days ago

BRIEF-Andritz Says Co Suspends Sales And Earnings Forecast For 2020

March 23 (Reuters) - Andritz AG:

* EANS-ADHOC: ANDRITZ SUSPENDS SALES AND EARNINGS FORECAST FOR 2020

* EXPECTS A NEGATIVE IMPACT ON DEVELOPMENT OF ITS SALES AND EARNINGS IN 2020 BUSINESS YEAR

* SEES SLIGHT INCREASE IN 2020 SALES AND UNCHANGED EARNINGS BEFORE EXTRAORDINARY EFFECTS (EBITA) COMPARED TO 2019

* INITIATED TEMPORARY COST-SAVING MEASURES IN MANY COUNTRIES WHERE GROUP IS ACTIVE

* A CHANGE OF RESOLUTION CONCERNING USE OF PROFITS (DIVIDEND PROPOSAL) IS NOT PLANNED AT MOMENT

* AT MOMENT, IT IS IMPOSSIBLE TO ESTIMATE EFFECTS ON SALES AND EARNINGS IN 2020 Source text for Eikon: Further company coverage:

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