Nine months difficult for Oerlikon

9 years ago - Published in Finance, Fundamental Analysis

The OC Oerlikon industrial group reported operating profit EBIT decline of 47.1% in the third quarter compared to the same period of 2015, to 37 million francs. After nine months, EBIT came to 105 million, a decrease of 53.9% compared to a year ago.

Sales decreased by 13.4% to 549 million in the third quarter, and by almost 15% to 1.72 billion, informs in a statement the Pfäffikon-based group.

The results reflect the difficult market conditions, particularly in the textile sector. As for the future, OC Oerlikon expects difficult months due to the uncertain economic climate and investment uncertainty in many of its markets. However, the group confirms the targets, ie a turnover between 2.3 and 2.5 billion francs.