The management board of Wolford AG has analyzed the effects of the increasing spread of the coronavirus and expects this global epidemic to have a significant negative impact on the development of sales and earnings of the Wolford Group. In Italy, where the virus has hit particularly hard, Wolford’s sales have fallen by about 50% in the last two weeks. Sales in the DACH region have fallen by around 30% in the last two weeks. These negative effects are expected to have impact on the new fiscal year 2020/21 (May 1, 2020 – April 30, 2021). Against this backdrop, the management board has corrected its outlook and no longer expects a positive operating result (EBIT) for the 2020/21 financial year.
In view of the current uncertainties, the Management Board will await the further course of the epidemic and its economic consequences before presenting a new medium-term outlook.