ADVA Optical Networking SE announces Q3 2020 financial results and releases new guidance for full year 2020
DGAP-Ad-hoc: ADVA Optical Networking SE / Key word(s): Quarter Results/Forecast Inside information acc. to Article 17 of the Market Abuse Regulation Munich, Germany. October 21, 2020. Revenues in the third quarter of 2020 were EUR 146.7 million, up 1.6% from the year-ago quarter (Q3 2019: EUR 144.3 million). The pro forma operating income increased by 49.5% to EUR 11.1 million (Q3 2019: EUR 7.4 million) amounting to 7.5% of revenues compared to 5.1% in the year-ago quarter. Based on the financial results for the third quarter and the current assumptions about business development in the fourth quarter of 2020, the management board of ADVA Optical Networking SE (ISIN: DE0005103006 FSE: ADV) today released new guidance for the 2020 financial year. The management board now expects revenues between EUR 565 million and EUR 580 million and a pro forma operating income between 5% and 6% as a percentage of revenues for the full year 2020. For the remainder of 2020 financial year, the further course of the global infection rates and associated further possible lockdown scenarios will be decisive. The new forecast assumes that the consequences of the Covid-19 pandemic will not intensify over the course of the year and that there will be no material delivery bottlenecks due to new lockdowns. The management board has withdrawn the sales and profitability forecast for the full year 2020 contained in the company's 2019 annual report due to the high level of uncertainty about the further course of the Covid-19 crisis and its effects on ADVA's business. Originally, the company had forecast increasing revenues of more than EUR 580 million with an increased pro forma operating result of more than 5% of revenues.
About ADVA Published by: Notifying Person and Contact for investors: Contact for press:
21-Oct-2020 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. |
Language: | English |
Company: | ADVA Optical Networking SE |
Märzenquelle 1-3 | |
98617 Meiningen-Dreissigacker | |
Germany | |
Phone: | +49 89 890 665 0 |
Fax: | +49 89 890 665 199 |
E-mail: | IRelation@advaoptical.com |
Internet: | www.advaoptical.com |
ISIN: | DE0005103006 |
WKN: | 510300 |
Indices: | SDAX |
Listed: | Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange |
EQS News ID: | 1142343 |
End of Announcement | DGAP News Service |
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1142343 21-Oct-2020 CET/CEST