Kuka AG Posts Loss In Q2; Sales Revenues Down 32.1% - Quick Facts
(RTTNews) - Kuka AG (KUKAY.PK, KUKAF.PK) reported a second quarter loss after taxes of 58.7 million euros compared to profit of 20.1 million euros, prior year. Loss per share was 1.51 euros compared to profit of 0.45 euros. EBIT was negative at 43.9 million euros, compared to EBIT of 23.7 million euros, last year. EBIT margin dropped to minus 8.1% from prior year EBIT margin of 3.0%.
Second quarter sales revenues were down 32.1% year-on-year to 544.2 million euros. Orders received were 551.7 million euros, a 39.6% decline from prior year.
"The coronavirus and its effects are creating a high degree of uncertainty. Many companies are reacting by holding back on investments. We are feeling this acutely in our markets, which were already under strain even before this crisis," said Peter Mohnen, CEO of KUKA AG.
For 2020, the company projects that both revenue and the EBIT margin will be clearly below the previous year's level. A negative EBIT margin is expected for the full year.
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