Press release -
Cavotec SA announces change in FY15 guidance
Due to very challenging delivery schedules for 4Q15 the Board and Management of Cavotec SA have today issued new FY15 guidance of revenues between EUR 230 and 235 million and a somewhat reduced level of profitability compared to FY14. Previous guidance was for moderate FY15 revenue growth and a strengthening EBIT towards the second half of the year.
"4Q15 is shaping up to be a new milestone in Cavotec's history as we have an unprecedented amount of deliveries to make in these coming months. Unfortunately, we foresee such pressure could potentially lead to deliveries being delayed into 1Q16" says Ottonel Popesco, Cavotec CEO. "We have also continued investing and strengthening our sales and engineering resources resulting in increased operating expenses."
Cavotec SA will publish its 3Q15 report on 5 November 2015.
Media & investor contact:
Group Director, IR & Corporate Communications
firstname.lastname@example.org or +41 795 024 010
The information in this release is subject to the disclosure requirements of Cavotec SA under the Swedish Securities Market Act and/or the Swedish Financial Instruments Trading Act. This information was publicly communicated on 19 October 2015, 08:30 CEST.
Cavotec is a leading global engineering group, developing innovative technologies that enable the maritime, airports, mining and tunnelling, and general industry sectors to operate productively and sustainably.