DVS Technology - Tough going
A sharply deteriorating machine tool market and procurement cost pressures have driven a reduction of over a third in DVS TECHNOLOGY’s H119 PBT and a material revision of full-year PBT guidance from €16m to €10m. This is all the more disappointing after H218 resilience (PBT up 11%) defied a similar profit warning. Management recently adopted a comprehensive group-wide plan to strengthen marketing and secure efficiencies. Finances remain sound (equity ratio almost unchanged at 50%) despite much higher net debt (up by a quarter since December), thanks to working capital needs and continued strong investment.Diskus Werke Fankfurt am Main is a holding company. Co. through its subsidiaries is a producer of grinding machines and grinding material for industrial use.
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