Schaffner Group aligns expectations for the current fiscal year

Media Release

Schaffner Group aligns expectations for the current fiscal year

Weak automotive sector and slowdown in China's economic growth dampen momentum

Luterbach, 22 March 2019 – The Schaffner Group expects net sales for the current fiscal year to be below last year's level, due to the changed economic environment. Furthermore, the medium-term target range for the Group’s EBIT margin of 8 to 10% is unlikely to be achieved already in the current fiscal year.

The adjustment is mainly due to lower sales in the Automotive division due to the present weakness of the global automotive market and the overall slowdown in economic growth in China.

Schaffner will explain the current business development in detail when presenting the half-year results on 7 May 2019.

Contact

Marc Aeschlimann

Chief Executive Officer

T +41 32 681 66 01

marc.aeschlimann@schaffner.com

Financial calendar

7 May 2019

5 December 2019

14 January 2020

Publication of half-year report 2018/19

Publication of annual report 2018/19

24th Annual General Meeting

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