Traton Withdraws 2020 View Due to Virus, 2019 Earnings Rose
23 Mars 2020 - 9:14AM
Dow Jones News
By Cristina Roca
Traton SE on Monday reported higher 2019 earnings and sales, but
said it could no longer give guidance for the year ahead due to the
coronavirus pandemic.
The truck maker said the 2020 guidance it gave in its 2019
annual report published Monday was no longer valid given the rapid
spread of the virus.
Traton had expected a moderate decline in sales units during
2020, as well as a moderate drop in revenue. Operating return on
sales had been expected at 4.5%-5.5% for the year.
The partially listed Volkswagen AG unit said Monday that this
guidance isn't valid any longer, and that it can't give a new
one.
Traton said it is implementing emergency plans and taking steps
to secure its liquidity.
For 2019, Traton reported after-tax profit of 1.52 billion euros
($1.62 billion), up from EUR1.39 billion for 2018. Operating profit
also rose to EUR1.88 billion from EUR1.51 billion the year
previous.
Traton's sales were EUR26.9 billion compared with EUR25.93
billion.
However, order intake for the year fell by 7%, the truck maker
said.
Traton proposed a dividend of EUR1 a share.
Write to Cristina Roca at cristina.roca@dowjones.com;
@_cristinaroca
(END) Dow Jones Newswires
March 23, 2020 03:59 ET (07:59 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
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