April 30, 2020 / 6:46 AM / a month ago

BRIEF-SNP Schneider Q1 Net Loss Widens To EUR 3.4 Million

April 30 (Reuters) - SNP SCHNEIDER NEUREITHER & PARTNER SE :

* GROUP REVENUE INCREASES TO € 34.4 MILLION IN Q1 2020 (+19.5% COMPARED WITH THE PREVIOUS YEAR)

* Q1 EBIT LOSS EUR 4.0 MILLION, 0.7 MILLION LOWER THAN THE PREVIOUS YEAR (Q1 2019: LOSS OF EUR 3.3 MILLION)

* Q1 NET LOSS EUR 3.4 MILLION (Q1 2019: LOSS OF EUR 2.8 MILLION)

* ORDER ENTRIES INCREASED IN THE FIRST QUARTER OF 2020 BY ABOUT 23% TO EUR 47.7 MILLION (Q1 2019: EUR 38.9 MILLION)

* IN VIEW OF THE EXPECTED IMPACT OF THE COVID-19 PANDEMIC, THE MANAGEMENT HAS UPDATED ITS FORECAST FOR THE 2020 FISCAL YEAR

* UPDATED 2020 FORECAST ENVISAGES GROUP REVENUE OF BETWEEN EUR 145 MILLION AND EUR 170 MILLION (PREVIOUSLY: BETWEEN EUR 175 MILLION AND EUR 185 MILLION)

* 2020 EBIT MARGIN IS EXPECTED TO FALL WITHIN THE MID-SINGLE-DIGIT PERCENTAGE RANGE (PREVIOUSLY: BETWEEN 6.5% AND 8.5%).

* EXPECTS CONDITIONS TO IMPROVE IN Q3

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