Having updated its annual budget, KHD Humboldt Wedag International AG (KHD), Cologne, is adjusting its forecast for the 2016 financial year accordingly.
The awarding of several significant projects, which were expected to be order intake in the first months of the 2016 financial year, has been postponed. As a result, these projects are now planned for order intake in the second half 2016 in the updated forecast. This, combined with challenges in the execution of individual large projects, has a substantial impact on the forecasted figures for revenue and EBIT. In accordance with the updated forecast, KHD expects revenues of approximately 10% below the previous year’s figure for the 2016 financial year. EBIT is expected to be significantly lower than in the previous year.
Adapted from press release by Rebecca Bowden
Read the article online at: https://www.worldcement.com/europe-cis/11052016/khd-adjusts-2016-forecast-78/