Due to the continued dynamic development of the COVID 19 pandemic and the associated impact on the global economy, it is currently not possible to make a reliable and realistic assessment of edding's business development in the 2020 financial year. The Management Board has therefore decided to withdraw the guidance for the 2020 financial year contained in the 2019 Annual Report.
In the business figures for the first quarter, the first effects of the COVID 19 pandemic on the sales situation can already be seen; on the basis of preliminary figures, the Group recorded a decline in sales in the low single-digit percentage range in this period. However, the significant decline in daily sales since mid-March - in some European core markets by up to 85% - suggests a substantial decline, especially for the second quarter.
As soon as a sufficiently reliable assessment of further business development in 2020 is possible, edding will publish a suitable guidance.
About edding AG: The company was founded in 1960 and in 2019 generated consolidated sales of € 141.8 million with an average of 659 employees. The edding Group stands for two brands with different expertise: Under the edding brand, products are developed and sold that apply long-lasting colour to surfaces, from permanent markers to spray cans, compact printers and digital codes. Classic and electronic visual communication products are marketed under the Legamaster brand.
This is an unofficial translation of the communication originally published in German; it was made at a later date. In case of doubt, the German language version shall be binding.