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ADVA Optical Networking SE: Preliminary revenue and profitability development in the second quarter of 2020 exceeds previous year and analyst estimatesIn preparation of the six-month report 2020 of ADVA (News - Alert) Optical Networking SE (FSE:ADV), the preliminary financial key figures of the second quarter significantly overperform both the previous year's figures and the available financial analyst estimates. For this reason, ADVA Optical Networking (News - Alert) SE publishes the following preliminary financial results for the second quarter of 2020:
Revenues and profitability increased substantially, both sequentially and year over year. In addition, cash and cash equivalents significantly increased and net debt iproved, compared to the previous quarter of 2020 and the year-ago quarter. This is mainly due to the cost improvement measures introduced in 2019. Despite the very positive second quarter, there is still high uncertainty about the further course of the Covid-19 crisis and its impact on ADVA's business. For this reason, the management board will not issue new guidance for the entire year 2020. The final business figures for the first half of 2020 will be published on July 23, 2020, as planned.
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