L R AS Published on Friday 4 January 2019 - n° 258 - Categories:miscellaneous financial
SMA cuts 425 jobs and has a new leader
SMA cuts 425 jobs in 2019-2020, including 100 in Germany. The aim is to reduce fixed costs in order to restore the company's profitability in a context of sharply falling prices.
SMA estimates that the financial year will end with sales of €760 to €780 million with a "negative EBE-EBITDA of several tens of millions of euros"
Photon of December 13
NDLR SMA is again reducing its forecasts for 2018: at the beginning of November, sales were expected to be between €800m and €850m, with EBITDA at break-even or negative. This means that the fourth quarter will have been worse than expected in terms of sales and that losses will have accumulated over this period.
The resignation of the CEO two months ago opens a new period. What will the successor's policy be? Will he be able to restore the company's competitiveness? The effect of his management will not be felt for at least two years.
A favourable factor, the euro is falling against the dollar, facilitating exports.
