Douglas cuts full-year sales guidance
Douglas AG Revises Financial Outlook Amid Market Uncertainty
Updated Sales Forecast
June 18 (Reuters) - German beauty company Douglas AG cut its full-year sales guidance on Thursday.
The company lowered its net sales forecast range, which is now 4.58 billion euros ($5.25 billion) to 4.63 billion euros, from a previous forecast for 4.65 billion to 4.8 billion range.
EBITDA Margin and Leverage Ratio Adjustments
Douglas also lowered its adjusted EBITDA margin projections to around 15.0% from around 16.0%.
At the same time, the company raised its net leverage ratio forecast range to 3.0-3.5x from 2.5-3.0x.
Market Reaction
Shares were down 6.1% at 1452 GMT following the outlook adjustment.
Management Commentary
In the press release, Douglas CEO Sander van der Laan said that "consumer behaviour and market dynamics have changed significantly."
Impact of Geopolitical and Macroeconomic Factors
Geopolitical and macroeconomic uncertainty led to delays in customer purchasing decisions in the European premium beauty market, said the company.
Additional Information
($1 = 0.8718 euros)
(Reporting by Simon Ferdinand EibachEditing by Miranda Murray)