DGAP-Adhoc: TRATON SE: Impact of COVID-19 on results 2020 expected
DGAP-Ad-hoc: TRATON SE / Key word(s): Change in Forecast
TRATON SE: Impact of COVID-19 on results 2020 expected
23-March-2020 / 08:01 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.
Impact of COVID-19 on results 2020 expected
Munich, 23 March 2020 - Today, TRATON SE has published its annual report for the financial year 2019 which, on the pages 63-65 (English version), within the report on expected development, opportunities and risks section, contains the report on expected developments for the financial year 2020. This report is based on market assumptions and company-internal evaluations as of the beginning of the year 2020 and was valid at the time of the preparation of the consolidated financial statements and the report on expected development, opportunities and risks on 10 February 2020.
Due to the - in particular in the recent days - globally rapidly progressing spread of the COVID-19 pandemic, the crisis measures taken by the respective states in relation thereto and their significant impact on the economy, a sound assessment of the development of our business for the financial year 2020 is currently not possible. Thus, the report on expected development for the financial year 2020 contained in the annual report 2019 is also not valid anymore.
An updated prognosis is, considering the currently fast-moving changes, not possible. TRATON SE has responded to the crisis with extensive measures. Apart from the implementation of emergency plans and temporary production stops this also includes measures to secure the liquidity of the company.
Nevertheless, the company is focusing on the strengthening of its brands. Their significant potential shall enable the company to reach its long-term business goals in a sustainable way and to promptly return to profitable growth once the situation has normalized.
Contact:
Rolf Woller
Head of Treasury and Investor Relations
T +49 162 172 33 62
rolf.woller@traton.com
TRATON SE
Dachauer Str. 641
80995 Munich, Germany
www.traton.com
Munich, 23 March 2020 - Today, TRATON SE has published its annual report for the financial year 2019 which, on the pages 63-65 (English version), within the report on expected development, opportunities and risks section, contains the report on expected developments for the financial year 2020. This report is based on market assumptions and company-internal evaluations as of the beginning of the year 2020 and was valid at the time of the preparation of the consolidated financial statements and the report on expected development, opportunities and risks on 10 February 2020.
Due to the - in particular in the recent days - globally rapidly progressing spread of the COVID-19 pandemic, the crisis measures taken by the respective states in relation thereto and their significant impact on the economy, a sound assessment of the development of our business for the financial year 2020 is currently not possible. Thus, the report on expected development for the financial year 2020 contained in the annual report 2019 is also not valid anymore.
An updated prognosis is, considering the currently fast-moving changes, not possible. TRATON SE has responded to the crisis with extensive measures. Apart from the implementation of emergency plans and temporary production stops this also includes measures to secure the liquidity of the company.
Nevertheless, the company is focusing on the strengthening of its brands. Their significant potential shall enable the company to reach its long-term business goals in a sustainable way and to promptly return to profitable growth once the situation has normalized.
Contact:
Rolf Woller
Head of Treasury and Investor Relations
T +49 162 172 33 62
rolf.woller@traton.com
TRATON SE
Dachauer Str. 641
80995 Munich, Germany
www.traton.com
23-March-2020 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de
End of Announcement DGAP News Service
1003821 23-March-2020 CET/CEST