28.06.2018
MAX Automation SE DE000A2DA588
DGAP-News: MAX Automation SE adjusts its earnings expectations for 2018
DGAP-News: MAX Automation SE / Key word(s): Profit Warning
MAX Automation SE adjusts its earnings expectations for 2018
28.06.2018 / 16:55
The issuer is solely responsible for the content of this announcement.
---------------------------------------------------------------------------
PRESS RELEASE
MAX Automation SE adjusts its earnings expectations for 2018
- Burdens from current projects at subsidiary IWM Automation - counter steps
already initiated
- Operating business of all other MAX companies continues to develop at a
high level as expected
- Group EBIT before PPA depreciations now expected at EUR 10 to 13 million
for 2018 - sales forecast unchanged
Düsseldorf, June 28, 2018 - MAX Automation SE, the high-tech mechanical
engineering Group, has adjusted its earnings expectations for fiscal year
2018. This was due to charges from current projects for several automotive
customers with the subsidiary IWM Automation. The IWM Automation Group with
sites in Porta Westfalica in Westphalia, Bermatingen on Lake Constance, and
Katowice, Poland, focuses on the automotive industry and its suppliers,
implementing complex automation and application solutions especially for
combustion, hybrid and electric drives as well as chassis, steering and
seating systems.
MAX Automation had already reported on additional costs for technically
demanding projects in its report for the first quarter of 2018. An economic
reassessment of the projects that are not proceeding according to plan was
carried out and now requires further adjustments. The Managing Directors of
MAX Automation SE have immediately initiated a series of structural steps
aimed particularly at improving project management. Furthermore, key
positions at IWM Automation will be refilled. These steps will place an
additional burden on earnings.
By contrast, the operating business development of all other subsidiaries of
the MAX Group has thus far remained at a high level in 2018, in line with
expectations.
Due to the burdens on IWM Automation's earnings, the Managing Directors of
MAX Automation SE now expect consolidated earnings before interest and taxes
(EBIT) and before PPA depreciation of between EUR 10 and 13 million for the
full year 2018 (previously: at least EUR 26 million). Group sales for the
current year are still expected to reach at least EUR 400 million (previous
year: EUR 376.2 million).
Daniel Fink, CEO of MAX Automation SE: "IWM Automation's difficulties with a
number of its projects, the extent of which has only now become apparent,
will have a significant impact on earnings in the current year. This
development is disappointing and comes with consequences. However, these are
clearly isolated individual projects. All other MAX Automation Group
companies are continuing to report order and sales growth at a high level
and with good profitability. We therefore remain confident that MAX
Automation will achieve its medium- and long-term goals."
Contact:
Frank Elsner
Frank Elsner Kommunikation für Unternehmen GmbH
Phone: +49 - 5404 - 91 92 0
Fax: +49 - 5404 - 91 92 29
About MAX Automation SE
MAX Automation SE (Securities Identification Number: A2DA58) with its
headquarters in Düsseldorf is an internationally active high-tech mechanical
engineering Group and a leading full-service supplier of integrated and
sophisticated system and component solutions. Its operational business is
divided into two segments. In the Industrial Automation segment, the Group
is considered to be a trendsetter in the development and manufacturing of
integrated and proprietary solutions for use in manufacturing and assembly
in the automotive industry, medical technology, packaging machines and the
electronics industry due to its comprehensive technological know-how. In the
Environmental Technology segment, MAX Automation develops and installs
innovative systems for use by the recycling, energy and raw materials
industries.
www.maxautomation.com
---------------------------------------------------------------------------
28.06.2018 Dissemination of a Corporate News, transmitted by DGAP - a
service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
The DGAP Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Archive at www.dgap.de
---------------------------------------------------------------------------
Language: English
Company: MAX Automation SE
Breite Straße 29-31
40213 Düsseldorf
Germany
Phone: +49 (0)211 90991-0
Fax: +49 (0)211 90991-11
E-mail: [email protected]
Internet: www.maxautomation.com
ISIN: DE000A2DA588
WKN: A2DA58
Listed: Regulated Market in Frankfurt (Prime Standard); Regulated
Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich,
Stuttgart, Tradegate Exchange
End of News DGAP News Service
---------------------------------------------------------------------------
699911 28.06.2018
|
Weitere Ad-hoc und Unternehmensrelevante Mitteilungen zu
MAX Automation SE ISIN: DE000A2DA588 können Sie bei EQS abrufen
Automatisierung , A2DA58 , MXHN , XETR:MXHN