Media release 23.04.2020
Pandemic slows down 1st quarter sales
Consolidated sales (Jan. – Mar. 2020)
|in EUR million||2020||2019||Change|
|Thereof service & maintenance||40.4||38.9||+3.9 %|
The pandemic started to impact turnover in the course of March after the agta record Group had booked attractive growth rates during the first two months of 2020. During March product sales (-19.5 %) were more impacted than sales of maintenance and service (-5.7 %). Many customers had to delay installation work because employees could not travel or due to closures of construction sites and buildings. On a positive note, order intake continued to grow in the first quarter, both in the product business (2.7 %) and in mainteance and service activities (2.9 %).
Given the volatility of current developments, it is not possible to issue any forecast regarding the development of business during the full year. The managment of the agta record Group is ready to adapt the organisation and the capacities. In addition, having no debt and a substantial amount of cash on the balance sheet will help to emerge in good shape from the pandemic.
Next media release
Half-year sales 2020: 23 July 2020 after trading