The first Swiss firms to lower due to the Corona-crisis forecasts

According to the OECD, has now conceded, the International monetary Fund because of the spread of the novel Coronavirus to its growth forecast for global econom

The first Swiss firms to lower due to the Corona-crisis forecasts

According to the OECD, has now conceded, the International monetary Fund because of the spread of the novel Coronavirus to its growth forecast for global economic growth. The old estimate of 3.3 percent for this year had lapsed, a new estimate will venture to the IMF only in April. The cooling is reached in Swiss companies: companies such as Dormakaba or Logitech to correct their forecasts for the current year.

The Swiss machinery industry, which is heavily dependent on exports, it shows alert: "If the effects persist through the Corona epidemic and the current extent of the Overvaluation of the Swiss franc, the situation for the industry is critical," he said on Wednesday Stefan Brupbacher, Director of the industry Association Swissmem. Demands for economic stimulus programs he gave, however, a rejection.

Currently, the machine industry in Switzerland employs 324’600 persons. For "different companies" in the industry, the supply chains had been affected or even completely interrupted, i.e. in the case of Swissmem.

key manufacturer warns

the current example, the manufacturer of the Kaba key. The published on Wednesday the Outlook for the current financial year, the Management of Dormakaba expects a significant influence by the Coronavirus and lowered its forecast. The local demand in China has already been affected, however, the visibility is lacking at the moment still has impact on global supply chains and economic growth.

Dormakaba now assumes that the growth in sales and margin operating profit for the entire fiscal year are not higher, but slightly lower than in the previous year. Due to the uncertain environment, should be checked in addition, the medium-term objectives in the coming months.

These statements, the financial industry noisy. The Analyst of Bank Vontobel "significant downside potential during the year, a result of Dormakaba". Investors sold in droves from the paper and sent the stock more than 7 percent to Minus.

Logitech expects less profit

on Monday, the computer accessories manufacturer Logitech had issued a profit warning. The West Swiss company lowered its forecast for operating profit by $ 10 million to new 365 to $ 375 million. The more pessimistic Outlook will delivery due to interruptions in the chains is necessary, said Logitech CEO Bracken Darrell. These are affected by the Virus.

you can Also use the Basler dental implants manufacturer Straumann is due to the Coronavirus outbreak in revenue losses. In the Asia-Pacific Region, sales revenue in the first quarter are likely to fall, therefore, to 30 million Swiss francs or more, the company said in mid-February. Compared to the final quarter would be a decline of more than a third. China, with a sales share of 12 percent, an important market for Straumann. For a more extensive evaluation it is Daniellot according to the head of the company Guillaume but still too early.

Other companies avoid concrete statements or to dispense with the usual growth forecast. The economic consequences arising from the spread of pathogens, are at the present time is not foreseeable, informed, for example, Bossard. For these reasons, the Zug-based logistics group, of a view.

The cement manufacturer Lafarge, Holcim for its forecast, the possible consequences of the Coronavirus on the business results of the whole of excluded. The epidemic is expected to get down in the result in China, said CEO Jan Jenisch at the end of February at the presentation of the 2019 numbers. He noted, however, that the market was there for Lafarge, Holcim is very important. "Most of our cement plants in China," said Jenisch.

The report season the Swiss company is still running for a few weeks. The list of companies that collect because of the Corona-crisis forecast will therefore be longer. And it is still unclear whether the slowdown affects only the first half of the year, or until the second half of the year will drag.

Created: 04.03.2020, 21:37 PM

Updated Date: 04 March 2020, 22:02

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