Zumtobel Company News - Revocation of guidance for FY 19/20 and FY 20/21
Yesterday evening Zumtobel informed that as a consequence of the COVID-19 pandemic, the financial targets both for FY 19/20 and FY 20/21 have become obsolete. For FY 19/20 revenues should be down yoy (prev. slightly up). The broad adj. EBIT margin range of 3-5% still stands at face value but implies a downgrade vs. the specified range of 4-5% (as provided in the 3Q conference call). Given the dependence on top line momentum, the management has also revoked the EBIT margin of 6% for the FY 20/21.Zumtobel is a lighting company based in Austria. Co. offers a full-line range of integral professional lighting solutions, luminaires, light management systems and lighting components for indoor and outdoor applications. Co.'s business activities are carried out primarily through its subsidiary groups: the Lighting Segment (lighting solutions, interior and exterior lighting, electronic-digital lighting and room management systems) and the Components Segment (electronic and magnetic lighting components).
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