– Adient to announce Q2FY20 financial results on May 5, 2020 PLYMOUTH, Mich., April 20, 2020 /PRNewswire/ — Adient (NYSE: ADNT), a global leader in automotive seating, today reported certain preliminary financial results for the quarter ended March 31, 2020. Revenue in Q2FY20 is expected to be approximately $3.5B versus $4.2B in Q2FY19. Q2FY20 Adjusted EBITDA is… Continue reading Adient announces preliminary Q2 fiscal 2020 results; exploring funding options to further strengthen the balance sheet
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04/17/2020Message from Dr. Jörg Stratmann, MAHLE CEO, to all MAHLE employees
Message from Dr. Jörg Stratmann, MAHLE CEO, to all MAHLE employees
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Update April 17, 2020We are working intensively on ramp up planning. Protecting the health of our employees is here the top priority. We adopted an extensive package of measures – we work in small teams to adjust production plants, to be able to keep distances on the shop floor or – according to the requirements of this situation – to implement highest hygiene standards. The comprehensive protective measures at our locations were further intensified, all operating processes at MAHLE are subject to strict safety precautions.
Our teams are also working relentlessly to restore stability in the supply chains. This will be a key factor in ramping up production. I know these are challenging times for all of us. The end of this global crisis is not yet in sight. But we act sensibly and decisively by gradually ramping up production to meet the needs of automotive manufacturers. I can assure you that we will deliver accordingly. We remain the reliable partner that we are known and valued for. We will contribute to getting our industry back on track.
Let's continue to stick together. My thanks – and that of my management board colleagues – goes to all employees who contribute to coping with this crisis worldwide.
Goodyear suspends dividend, to cut payroll costs affecting 9,000 employees; stock drops
Shares of Goodyear Tire & Rubber & Co. dropped 4.7% in premarket trading Thursday, after the tire maker warned of a sales miss, suspended its dividend and announced payroll cost cuts that will affect more than 9,000 employees. The company said it expects first-quarter sales to fall to $3.0 billion from $3.6 billion, compared with… Continue reading Goodyear suspends dividend, to cut payroll costs affecting 9,000 employees; stock drops
Grammer confirms preliminary figures for 2019 and expects a significant slowdown in 2020
Grammer confirms preliminary figures for 2019 and expects a significant slowdown in 2020 -Positive revenue development in both segments based on a strong first half of 2019-Group revenue of 2.04 billion euros and operating EBIT totaling 77 million euros-Production stops at customers in the automotive and commercial vehicle segments requiring capacity adjustments at Grammer plants… Continue reading Grammer confirms preliminary figures for 2019 and expects a significant slowdown in 2020
Goodyear Provides Preliminary First Quarter Results, Business UpdateApr 16, 2020AKRON, Ohio, April 16, 2020 – The Goodyear Tire & Rubber Company today…
— Company completes refinancing of $2.0 billion U.S. revolving credit facility, extending maturity to 2025 — Announces global cost mitigation actions in response to rapidly changing business environment — Sees first quarter results significantly affected by COVID-19; volume down 18% versus last year — Temporarily suspends quarterly dividend, reduces 2020 capital expenditures to further enhance… Continue reading Goodyear Provides Preliminary First Quarter Results, Business UpdateApr 16, 2020AKRON, Ohio, April 16, 2020 – The Goodyear Tire & Rubber Company today…
First quarter 2020 results
Amsterdam, the Netherlands, 15 April 2020 7:00 AM CEST FINANCIAL SUMMARY FIRST QUARTER 2020 Group revenue decreased by 23% to €131 million (Q1 ’19: €170 million) Location Technology revenue of €91 million (Q1 ’19: €103 million) Automotive operational revenue decreased by 2% to €85 million (Q1 ’19: €87 million) Free cash flow is an inflow… Continue reading First quarter 2020 results
Michelin and Enviro partner to develop an innovative technology to transform used tires into raw materials
Michelin and Enviro partner to develop an innovative technology to transform used tires into raw materials For the tire industry and its customers, recycling is a major issue. Each year, about 1 billion tires reach the end of their life. Thanks to this recycling technology, tires considered as used give birth to new quality raw… Continue reading Michelin and Enviro partner to develop an innovative technology to transform used tires into raw materials
Major Negative Impact on Revenue and Earnings in the First Quarter of 2020 as a Result of the COVID-19 Pandemic
04/15/2020
Major Negative Impact on Revenue and Earnings in the First Quarter of 2020 as a Result of the COVID-19 PandemicPublication of Insider Information pursuant to Article 17 of Regulation (EU) No. 596/2014
GRAMMER AG (WKN 589540, ISIN DE0005895403)
Major Negative Impact on Revenue and Earnings in the First Quarter of 2020 as a Result of the COVID-19 Pandemic
Amberg, April 15, 2020 – Based on the preliminary figures, Grammer AG expects group revenue in the first quarter to amount to 455 million EUR (prior year: 534 million EUR).
The operating earnings before interest and taxes (operating EBIT) are expected to amount to approximately 0.5 million EUR (prior year: 23 million EUR) for this reporting period. The EBIT will likely come in around -2 million EUR (prior year: 24 million EUR) due to negative exchange rate effects.
The predominant cause of this significant decrease in revenue and earnings in the first quarter were the significant reductions in customer orders and the worldwide production stops of many OEMs. In particular, the closures of locations in China during the months of January and February, as well as of European and American locations starting in March, severely limited the business activities of the Grammer Group in these regions.
In this regard, the far-reaching effects of the COVID-19 pandemic added to already weak global automotive markets and the significantly reduced demand year-over-year in Grammer’s higher-margin commercial vehicles segment.
In the first quarter, the company concluded – in collaboration with the employee representatives – a package of comprehensive measures that provides for a corresponding adjustment of operating activities to the substantial reduction in demand.
The publication of the quarterly report for the first quarter of 2020 will take place as planned on April 29, 2020.
Grammer AG
Executive Board
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Magna Announces Filing of Preliminary Shelf Prospectus and Registration Statement; Amends 364-Day Syndicated Credit Facility
AURORA, Ontario, April 14, 2020 (GLOBE NEWSWIRE) — Magna International Inc. (TSX: MG; NYSE: MGA) today announced that it filed a preliminary short form base shelf prospectus (“shelf prospectus”) with the Ontario Securities Commission (the “OSC”) and a corresponding shelf registration statement with the United States Securities and Exchange Commission (the “SEC”) on Form F-10.… Continue reading Magna Announces Filing of Preliminary Shelf Prospectus and Registration Statement; Amends 364-Day Syndicated Credit Facility
Schaeffler AG platziert EUR 350 Mio. grünes Schuldscheindarlehen
2020-04-09 | Herzogenaurach Debüt-Schuldschein im Gesamtvolumen von rund 350 Millionen Euro in schwierigem Marktumfeld platziert Schuldschein umfasst grüne Tranchen zur Refinanzierung eines Portfolios von nachhaltigen Projekten Der weltweit tätige Automobil- und Industriezulieferer Schaeffler hat erstmals ein Schuldscheindarlehen platziert und damit im aktuell schwierigen Marktumfeld insgesamt ein Volumen von rund 350 Millionen Euro aufnehmen können. Aus… Continue reading Schaeffler AG platziert EUR 350 Mio. grünes Schuldscheindarlehen