21st Austria weekly - Zumtobel (02/03/2021)

Zumtobel: Austrian based lightning group Zumtobel closed the first nine months of the current 2020/21 financial year (1 May 2020 to 31 January 2021) with clearly positive results in spite of the ongoing Covid-19 pandemic. Revenues for this international lighting corporation fell by 12.9% to Euro 759.2 min as a result of the corona crisis, but the slow upward trend continued. In the third quarter, the decline was reduced to roughly 9%. After an adjustment for foreign exchange effects, the decrease in revenues equalled 11.8% for the first nine months. Despite the decline in revenues, the Zumtobel Group generated positive operating profit (adjusted EBIT) of Euro 27.7 mn and a return on sales of 3.6% (Q1-Q3 2019/20: 5.4%). Net profit amounted to EUR 14.9 million, and free cash flow rose significantly from Euro 32.9 mn to Euro 59.8 mn, supported by the effective management of working capital and investments. The pandemic situation has led to planning uncertainty in many of the Group’s markets, but management expects further recovery in the business and a year-on-year increase in revenues during the fourth quarter of 2020/21. The Management Board also assumes that operating results for the Group (adjusted EBIT) will be positive in the fourth quarter.
Zumtobel: weekly performance: 6.57%

(From the 21st Austria weekly https://www.boerse-social.com/21staustria (02/03/2021)

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1. 70 Jahre Zumtobel: Leuchtenherstellung am Standort Dornbirn, Credit: Zumtobel   >> Öffnen auf photaq.com

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