KHD Humboldt Wedag International AG / Key word(s): Change in Forecast
04.08.2014 19:56
Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted
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The issuer is solely responsible for the content of this announcement.
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KHD adjusts forecast
Cologne, Germany, August 4, 2014 - KHD Humboldt Wedag International AG
(KHD), Cologne, is updating its annual budget and adjusting its forecast
for the 2014 financial year accordingly. Although the Parts & Services
segment is expected to perform better than originally planned, the Capex
segment has been strongly affected by risks arising from the current
economic and political developments.
In connection with the crisis in the Ukraine and the resulting
uncertainties, a large order in Russia, will most likely no longer be
considered as order intake for the current year. This order was announced
in April 2014 with an original volume of over EUR 90 million. However, KHD
has not yet been able to book this order as order intake. As a result of
this, the Group now expects order intake for the 2014 financial year to
reach just below the 2013 order intake level, which amounted to EUR 172.4
million. This also means that KHD will not receive the forecasted down
payments for this project and therefore operating cash flow for the 2014
financial year is now forecasted to be significantly negative.
The reported postponements in order intake as well as further delays in
order execution are also having an impact on expected revenues. For the
2014 financial year, KHD is now forecasting a drop in revenue of up to 10%
compared to the previous year (EUR 249.6 million). However, KHD maintains
its latest EBIT margin guidance for the 2014 financial year.
KHD Group
KHD is a global leader for providing equipment and services to cement
producers with over 150 years of experience in the cement industry. Process
engineering and project management are among the core competencies of the
technology-focused group. KHD offers a wide spectrum of products and
services for the cement industry and is a leader in environmentally
friendly and energy-efficient products for the grinding and pyro processing
sections of the plants. The holding company KHD Humboldt Wedag
International AG, based in Cologne, Germany, coordinates its
internationally operating subsidiaries. The group employs more than 750
employees worldwide, including customer service centers in growing markets
like India, Russia and the Asia Pacific region. KHD Humboldt Wedag
International AG (ISIN: DE0006578008, WKN: 657800) is listed on the
Frankfurt stock exchange (General Standard). More information: www.khd.com.
Additional Information:
ISIN: DE0006578008
Securities identification number (WKN): 657800
Market segment: Regulated Market (General Standard) of the Frankfurt Stock
Exchange
KHD Humboldt Wedag International AG
Colonia-Allee 3
51067 Cologne, Germany
End of Ad-hoc Announcement
Contact:
KHD Humboldt Wedag International AG
Michael Nielsen
Investor Relations
Tel.: +49 (0)221 - 6504-1500
E-Mail: michael.nielsen@khd.com
Website: www.khd.com
04.08.2014 The DGAP Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
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Language: English
Company: KHD Humboldt Wedag International AG
Colonia-Allee 3
51067 Köln
Germany
Phone: +49 (0)221 6504 1500
Fax: +49 (0)221 6504 1409
E-mail: michael.nielsen@khd.com
Internet: www.khd.com
ISIN: DE0006578008
WKN: 657800
Listed: Regulierter Markt in Frankfurt (General Standard);
Freiverkehr in Berlin
End of Announcement DGAP News-Service
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DGAP-Adhoc: KHD Humboldt Wedag International AG: KHD adjusts forecast
| Source: EQS Group AG