- Accelerated restructuring leading to non-operative one-offs
- EBIT guidance adjusted accordingly to EUR 2 to EUR 5 mill. for FY 2017
- Dr. Martin Kleinschmitt as new member of the Executive Board (CRO)
Revenues of the Group are expected at the lower end of the guidance (EUR 520 mill. to 540 mill.). The quoted restructuring expenses as well as unscheduled quality and warranty expenses in several business areas make the Schaltbau Group adjust its capital market guidance for FY 2017 to EBIT (Earnings before taxes, increased by affiliate and financial results) of EUR 2 to EUR 5 mill. (heretofore: 3 % to 4 % EBIT margin). Without considering the quoted extraordinary effects, EBIT would be at the lower end of the previous guidance.
As already announced, the Executive Board shall return from currently two members to three members. Given the comprehensive restructuring programs due, the Supervisory Board has resolved to fill the vacant position effective August 9, 2017 with the restructuring expert Dr. Martin Kleinschmitt who will act as CRO (Chief Restructuring Officer).
The half-year report of the Schaltbau Group will, as scheduled, be published on August 17, 2017 on www.schaltbau.com.