AUGSBURG (dpa-AFX) - Kuka AG (KUKAY.PK, KUKAF.PK) reported that its EBIT for fiscal year was negative 113.2 million euros compared to positive 47.8 million euros in the previous year, reflecting the coronavirus-related decline in orders and sales revenues.
Orders received by the Group in 2020 declined 12.5% year on year to 2.79 billion euros. Sales revenues fell by 19.4% to 2.57 billion euros from the previous year.
KUKA expects the economic recovery to continue worldwide and anticipates higher sales revenues and a positive EBIT in 2021.
Despite the lockdown, orders received and sales revenues were higher year-on-year throughout the first quarter of 2021. In particular, EBIT is expected to be significantly better than in the prior-year period.
Copyright RTT News/dpa-AFX