The Vorarlberg lighting group Zumtobel expects a significantly higher profit despite the corona crisis.
For the 2020/21 financial year, which will run until the end of April, “subject to special effects from the reporting date-related year-end evaluations”, the board of directors is going from a positive annual result of 24 to 34 million euros, the listed company announced on Tuesday evening. In the previous year, the net profit was 14.5 million euros.
One billion euros in sales
The reason for the significant increase in profit were lower restructuring costs and a positive effect from income taxes, it said in the announcement. However, sales and operating profit (EBIT) are likely to be lower in 2020/21. The Management Board expects revenues of a good billion euros after 1.13 billion euros in 2019/20. The adjusted EBIT is likely to decrease from EUR 53.9 million to EUR 36 to 43 million.
Rising raw material prices
The corona crisis is not leaving Zumtobel without a trace. For the fourth quarter in particular, the Zumtobel Group recently assumed a very challenging market environment, on the one hand on the revenue side and on the other hand on the cost side. Here, for example, rising raw material prices are causing problems for the company.