March 24, 2020 / 6:28 AM / 8 days ago

BRIEF-Frauenthal Holding FY EBITDA Up At EUR 67.1 Mln

March 24(Reuters) - FRAUENTHAL HOLDING AG:

* FY EBITDA UP AT EUR 67.1 MLN

* DIVIDEND PROPOSAL FOR 2019 IS STILL BEING EVALUATED DEPENDING ON THE DURATION AND EFFECTS OF COVID-19 CRISIS

* DUE TO LACK OF VISIBILITY, OUTLOOK FOR 2020 FINANCIAL YEAR IS CURRENTLY NOT POSSIBLE

* CORONAVIRUS OUTBREAK IS HAVING IMPACT ON CO’S SUPPLY CHAIN AND FACTORIES, CO EXPECTS MASSIVE DEMAND AND PRODUCTION RESTRICTIONS

* EXPECTS 2020 REVENUE AND EBITDA TO BE SIGNIFICANTLY BELOW 2019

* ADJUSTMENT MEASURES IN AUTOMOTIVE DIVISION INCLUDE TEMPORARY CESSATION OR SIGNIFICANT REDUCTION IN PRODUCTION IN EUROPEAN PLANTS AND IN AMERICAN PLANT IN SOUTH CAROLINA, MAKING USE OF EXISTING SHORT-TIME WORKING MODELS

* IN RETAIL DIVISION, DROP IN DEMAND IS BEING RESPONDED TO BY SWITCHING TO SHORT-TIME WORK

Source text for Eikon: Further company coverage: (Gdansk Newsroom)

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