April 28, 2020 / 5:58 AM / a month ago

Sweden's Elekta slashes full-year growth forecast over COVID-19 impact

STOCKHOLM, April 28 (Reuters) - Swedish radiation therapy equipment maker Elekta on Tuesday slashed its sales growth and margin forecasts for the fiscal year ending in April, citing the impact of the COVID-19 pandemic.

The company, which rivals U.S group Varian Medical Systems , said it now forecast constant currency sales growth of around 1% for the year, compared to its previous forecast of 8-10% growth, given in February.

Elekta also forecast an operating margin (EBITA) of 16-17%, down from the 18% previously seen.

“Order intake and sales have been negatively affected during the quarter with an increasing effect in April due to limited access to hospitals and delayed starts of installations as a consequence of lock down of countries,” Elekta said in a statement. (Reporting by Johannes Hellstrom; editing by Niklas Pollard)

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