Brief: Roblon Downgrades Guidance For 2018/19

Roblon A/S

12/04/2019 09:20

April 12 (Reuters) - Roblon A/S  RBLNb.CO :
    * REG-WITH MAJOR LOSS ANTICIPATED, ROBLON DOWNGRADES
GUIDANCE FOR
2018/19
    * ONE OF ROBLON'S LARGEST CUSTOMERS, GERMAN WIND TURBINE
MANUFACTURER SENVION, IS IN FINANCIAL DIFFICULTY
    * SITUATION POSES SIGNIFICANT UNCERTAINTY FOR ROBLON'S
2018/19
REVENUE AND EARNINGS.
    * MANAGEMENT HAS CHOSEN TO REMOVE ALL PREVIOUS REVENUE AND
EARNINGS EXPECTATIONS RELATING TO SENVION FROM OUTLOOK FOR
REMAINDER OF 2018/19 FINANCIAL YEAR
    * PREVIOUSLY GUIDED REVENUE FOR 2018/19 IS CONSEQUENTLY
REDUCED BY
DKKM 47 AND GUIDED PROFIT BEFORE TAX IS REDUCED BY DKKM 14
    * HAS WRITTEN DOWN AND EXPENSED FULL VALUE OF INTANGIBLE
ASSETS
RELATED TO INVESTMENTS IN AMOUNT OF DKKM 8.5
    * ROBLON'S CURRENT WORKING CAPITAL RELATED TO SENVION
EXPOSURE,
WHICH AT PRESENT STANDS AT AROUND DKKM 10
    * SENVION PROBLEM IS EXPECTED TO ADVERSELY IMPACT ROBLON'S
FULL-YEAR RESULTS BY DKKM 32.5.
    * MANAGEMENT HAS DOWNGRADED ITS PROFIT GUIDANCE FOR 2018/19
    * 2018/19 REVENUE IS NOW EXPECTED TO BE IN REGION OF DKKM
270
(2017/18: DKKM 221.8)
    * 2018/19 PROFIT BEFORE TAX IS EXPECTED TO BE A LOSS OF DKKM
20
(2017/18: A PROFIT OF DKKM 9.6)
    * FOR Q2 2018/19, FORECAST IS A LOSS BEFORE TAX OF AROUND
DKKM 28,
AGAINST PREVIOUSLY A BREAK-EVEN BEFORE TAX
    * FORECAST FOR FIRST HALF IS A LOSS BEFORE TAX OF AROUND
DKKM 38.5

Source text for Eikon:  ID:nGNE8x8gf3 
Further company coverage:  RBLNb.CO 

 (Gdynia Newsroom)
 ((gdynia.newsroom@thomsonreuters.com; +48 58 772 0920;))