AlzChem Group AG slightly adjusts sales forecast for fiscal year 2019, but confirms earnings forecast
Trostberg, November 8, 2019 – In view of an increasingly challenging economic environment, AlzChem Group AG slightly adjusts its sales forecast for fiscal year 2019. The company now expects to generate sales of EUR 375 - 385 million (compared to EUR 389.9 - 398.9 million previously forecast). Sales in 2019 are thus expected to reach or slightly exceed the previous year's level of EUR 375.2 million.
The main reason for the expected sales development is the continuing weakness of the automotive sector and the solar industry, which will be particularly evident for AlzChem in the fourth quarter. In the automotive sector, AlzChem is particularly affected by the lower demand for steel and steel derivatives. Deliveries from Custom Manufacturing were also weaker. In addition, deliveries to the solar market are recovering more slowly than previously assumed.
Irrespective of the slightly adjusted sales forecast, the company confirms the earnings forecast made for fiscal year 2019. Adjusted EBITDA (2018: EUR 49.4 million) will thus remain within a range of EUR 46.5 - 51.9 million.