Tognum Tones Down Financial Forecast for Full Year 2012
Tognum adjusts its forecast at end of the first half-year 2012, anticipating growth in revenues in the lower single-digits.
The company now anticipates growth in revenues in the lower single-digit percentage range and thus remains within the current forecast corridor. The adjusted return on sales is expected to be around ten per cent by the end of the year. Tognum had previously assumed it would achieve an adjusted return on sales of over ten per cent.
“The macro-economic prospects for the financial year deteriorated significantly in the course of the second quarter. We nevertheless expect to generate higher revenues in the second half of the year than in the first half,” says Joachim Coers, CEO of Tognum AG. “Since uncertainty still prevails on the raw materials and capital markets, we still expect to see fluctuations in demand in the course of the year.
Key highlights of the half year 2012 result are as follows:
• Solid order intake of €1,524.1 million in the first half-year
• Revenues increase to €1,415.4 million
• Adjusted return on sales of 9.6%
• Revenue forecast within forecast corridor
• Adjusted return on sales of around 10% predicted