bullish

DVS Technology - Recovery in H220 will deliver FY20 break-even

246 Views07 Oct 2020 15:50
Issuer-paid
SUMMARY

DVS TECHNOLOGY’s H120 results were affected by a lower order book at the start of the year and the coronavirus pandemic, leading to a 28% decline in revenues to €90m and a loss before tax of €3.1m. Due to improved market conditions since then and cost-saving measures implemented since May 2020, management expects stronger results in H220 vs H120. FY20 guidance is for a decline in revenues of 19% and a break-even result before tax. Longer term, DVS TECHNOLOGY is well positioned to benefit from the market’s continued transformation towards e-mobility as it has exposure to e-mobility products in all of its divisions.

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