Consolidated revenue of EUR 52.2 million in line with expectations / Announcement of new forecast currently not possible / Economic conditions of the Group remain solid
Sassenberg, May 12, 2020 - The technotrans Group has started the new financial year in line with expectations. Consolidated revenue in the first quarter of 2020 amounted to EUR 52.2 million, which was 1.7 percent slightly below the previous year. The Group's EBIT declined by 47 percent to EUR 1.8 million compared to the first quarter of 2019. This includes announced extraordinary expenses for structural and personnel adjustments of EUR 1.3 million as well as a positive one-off income of EUR 0.6 million from the release of a provision for a concluded fine proceeding. The EBIT margin fell from 6.3 to 3.4 percent. Due to the currently unforeseeable effects of the COVID-19 pandemic, the Board of Management withdrew the existing forecast for the 2020 financial year on April 30, 2020. The announcement of an updated forecast is not possible at present and will be made at a later point of time. technotrans' financial situation remains sound - Liquidity is assured for the foreseeable future.