Schloss Wachenheim AGSWA
▼ NegativeCapitalrelevance
Preliminary annual results missed sales and profit forecasts.
Impact on stocks 1
Consumer Staples
Schloss Wachenheim AGSchloss Wachenheim, the Germany-based sparkling-wine group, reported preliminary annual results that fell short of its own forecasts, with sales inching up just 0.3% to €448.9m ($521.9m) for the year to 30 June, versus a projected 3% rise. Volume sales increased 2.4% to 229.6 million 750ml bottles, but the company's fourth-quarter performance "fell short of expectations" across all divisions. EBIT came in at approximately €27.6m, up from €27.2m a year earlier but below the €30-33m forecast, while net income after taxes of around €16.4m exceeded the prior year's €16.2m but missed the €18-21m range. The company will publish its full annual results later this month.
Schloss Wachenheim AGPreliminary annual results missed sales and profit forecasts.