Brief: hGears AG Adjusts Its 2022 Guidance

hGears AG

04/10/2022 20:37

Oct 4 (Reuters) - Hgears Ag  HGEA.DE :
    * EXPECTING FY REVENUE OF EUR 134 – 138 MILLION (2021: EUR
134.9
MILLION)
    * EQS-ADHOC: HGEARS AG ADJUSTS ITS 2022 GUIDANCE
    * MAIN REASONS FOR GUIDANCE ADJUSTMENT ARE POSTPONEMENTS AND
CANCELLATIONS OF DEMANDED VOLUMES ACROSS DIFFERENT BUSINESS
AREAS LIKELY RESULTING IN LOWER-THAN-EXPECTED FY REVENUES
    * SEES ADJUSTED EBITDA OF EUR 14 - 17 MILLION (2021: EUR
22.9
MILLION) FOR FY
    * COMPANY'S MID-TERM TARGET OF EUR 250 MILLION IN REVENUES,
OF
WHICH E-MOBILITY BUSINESS WILL GENERATE EUR 150 MILLION, REMAINS
UNCHANGED

Source text for Eikon:  ID:nEQ6DHXZRa 
Further company coverage:  HGEA.DE 
 ((Reuters.Briefs@thomsonreuters.com;))