Publication of insider information in accordance with Article 17 MAR: Zumtobel Group AG: Adjustment of forecast for the 2017/18 financial year
January 24, 2018 at 03:04 pm EST
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Publication of insider information in accordance with Article 17 MAR: Zumtobel Group AG: Adjustment of forecast for the 2017/18 financial year
24.01.2018
Dornbirn, Austria - The general development of the professional lighting industry has also remained below our expectations throughout the third quarter. Business has been negatively affected, above all, by a sharp drop in revenues in Great Britain, the most important single market for the Zumtobel Group AG, as well as aggressive price competition in both the lighting and components business and revenues that has not yet been realised due to internal operating challenges. These developments led to a decision by the Management Board of Zumtobel Group AG in a meeting today to adjust the forecast for the 2017/18 financial year (1 May 2017 to 30 April 2018).
In view of the upcoming changes on the Management Board, planning for the coming months is connected with above-average uncertainty. Taking into account the effects of the extensive cost savings measures already implemented, the Management Board now expects adjusted EBIT of EUR 15 to 25 million based on a decline in revenues of approximately 8% for the 2017/18 financial year. The previous forecast called for adjusted EBIT of EUR 50 to 60 million and a decrease in revenues of roughly 5%.
Zumtobel Group AG will present detailed information on the development of business in connection with the presentation of results for the third quarter of the 2017/18 financial year on 6 March 2018.
Contakt Investor Relations
Harald Albrecht
VP Investor Relations
Tel. +43-(0)5572 509-1125
harald.albrecht@zumtobelgroup.com
Press Contact
Simone Deitmer
Head of Corporate Communications
Tel. +43-(0)5572 509-575
simone.deitmer@zumtobelgroup.com
Zumtobel Group AG published this content on 24 January 2018 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 24 January 2018 20:04:02 UTC.
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Zumtobel Group AG is an Austria-based company. The Company is engaged as a provider of lighting solutions, lighting components and the associated services. The Company operates through two segments: Lighting Segment and Components Segment. In the lighting segment, the Company produces hardware and software for lighting systems (LED light sources, LED drivers, sensors and light management). It offer services such as advice on intelligent lighting controls and emergency lighting systems, lighting contracting, design services, project management for turnkey lighting solutions as well as new, data-based services with a focus on connecting buildings and cities using light infrastructure, e.g. Real-time location of goods and people using Bluetooth Doppler direction finding. The Components segment includes industry (including logistics, halls, parking garages), office, education and healthcare (including hospitals, schools and universities) and retail (incl. Supermarkets, furniture stores).
ZUMTOBEL GROUP AG 
