TRATON SE / Key word(s): Forecast
TRATON SE: TRATON SE announces outlook for fiscal year 2020
28-Oct-2020 / 20:59 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
TRATON SE announces outlook for fiscal year 2020
Munich, October 28, 2020 - In the third quarter, the TRATON GROUP experienced a faster market recovery than expected. Based on the preliminary figures for the first nine month and the third quarter 2020 published on October 21, 2020, TRATON SE also expects a positive impact on the overall result for the rest of the year, with the fourth quarter of 2020 showing the usual pattern of seasonality towards the end of the year. The Management Board of TRATON SE has therefore decided on the following outlook for the fiscal year 2020 in its meeting today:
Subject to a further increase in the number of COVID-19 pandemic infections and the related countermeasures taken by the respective countries as well as possible effects on our production and supply chains, we expect a further recovery of business activities at the end of 2020. Overall, however, we expect a sharp decline in sales volumes worldwide in fiscal year 2020 due to the market downturn.
In line with the sales development, the Management Board also expects a significant reduction in TRATON GROUP sales compared to the previous year, so that we expect an operating return on sales between -1 % and +1 % for the TRATON GROUP. The reason for the range is the risk of further significant restrictions on economic activity as a result of the increased number of infections until the end of 2020.
The forecast for the operating return on sales does not include any expenses for the realignment of MAN Truck & Bus announced on September 11, 2020. Due to ongoing negotiations with employee representatives, it is not possible at this time to predict when and how much these expenses will be incurred.
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