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21st Austria weekly - OMV, Wolford (23/07/2020)

26.07.2020

Wolford: Leg- and bodywear company Wolford, which is listed on Vienna Stock Exchange, generated revenues of Euro 118.5 mn in 2019/20, registering a fell in revenue of 13.6% compared to the previous year figures of Euro 137.2 mn. The strong lockdown measures and the restrictions imposed on travel due to the global pandemic had a decisive impact on all luxury sales particularly in the months of March and April 2020, when Wolford´s revenue fell by around 60%. The new Management Board, which took up their roles in the fall of 2019, has promptly reacted by implementing a crisis response to include short-time working plans, as well as, since the end of March 2020, the conversion of part of their facilities to accommodate Care Masks' production, to meet the increased worldwide demand, a move that has certainly cushioned fall in other revenues. The socio-economic developments have clearly left their mark on the company's earnings. Operating earnings (EBIT) fell from EUR -9 mn in the previous year to Euro -28.7 mn. The loss after taxes amounted to Eur -27.42 mn (2018/19: EUR -11.10 mn). Wolford plans to return to profitability on an operating level in 2021. "By selling the company´s property in Bregenz, Wolford AG has gained the flexibility needed to shape its own future. This is our opportunity - and we intend to seize it," emphasized the new Management Board.
Wolford: weekly performance: -1.92%

OMV: The two largest core shareholders of the Austrian energy group OMV, Österreichische Beteiligungs AG (ÖBAG) and Mubadala Petroleum and Petrochemicals Holding LLC (a fully owned subsidiary of Mubadala Investment Company (Mubadala) have announced the extension of their close cooperation for further 10 years to continue and strengthen their support of OMV.  The enhancement of the cooperation between the two major shareholders represented by this agreement strengthens OMV's investor base and will support the company during a period of transformation as it evolves to meet the challenges of the energy transition and circular economy.
OMV: weekly performance: -1.73%

(From the 21st Austria weekly https://www.boerse-social.com/21staustria (23/07/2020)


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21st Austria weekly - OMV, Wolford (23/07/2020)


26.07.2020


Wolford: Leg- and bodywear company Wolford, which is listed on Vienna Stock Exchange, generated revenues of Euro 118.5 mn in 2019/20, registering a fell in revenue of 13.6% compared to the previous year figures of Euro 137.2 mn. The strong lockdown measures and the restrictions imposed on travel due to the global pandemic had a decisive impact on all luxury sales particularly in the months of March and April 2020, when Wolford´s revenue fell by around 60%. The new Management Board, which took up their roles in the fall of 2019, has promptly reacted by implementing a crisis response to include short-time working plans, as well as, since the end of March 2020, the conversion of part of their facilities to accommodate Care Masks' production, to meet the increased worldwide demand, a move that has certainly cushioned fall in other revenues. The socio-economic developments have clearly left their mark on the company's earnings. Operating earnings (EBIT) fell from EUR -9 mn in the previous year to Euro -28.7 mn. The loss after taxes amounted to Eur -27.42 mn (2018/19: EUR -11.10 mn). Wolford plans to return to profitability on an operating level in 2021. "By selling the company´s property in Bregenz, Wolford AG has gained the flexibility needed to shape its own future. This is our opportunity - and we intend to seize it," emphasized the new Management Board.
Wolford: weekly performance: -1.92%

OMV: The two largest core shareholders of the Austrian energy group OMV, Österreichische Beteiligungs AG (ÖBAG) and Mubadala Petroleum and Petrochemicals Holding LLC (a fully owned subsidiary of Mubadala Investment Company (Mubadala) have announced the extension of their close cooperation for further 10 years to continue and strengthen their support of OMV.  The enhancement of the cooperation between the two major shareholders represented by this agreement strengthens OMV's investor base and will support the company during a period of transformation as it evolves to meet the challenges of the energy transition and circular economy.
OMV: weekly performance: -1.73%

(From the 21st Austria weekly https://www.boerse-social.com/21staustria (23/07/2020)




 

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