Wertheim | Business development 2020 - Rainer Kurtz, CEO and Thomas Mühleck, CFO gave their assessment for the 2020 business year in today's press conference via Skype. In the economically difficult Corona environment, the Kurtz Ersa Group has achieved a strong performance. The company, like the entire industry, has been significantly affected by the COVID 19 pandemic and expects sales to decline by approximately 15 percent to around 225 million euros in the current fiscal year. The earnings situation was maintained at the previous year's level due to implemented cost-cutting measures and the use of short-time working. "Against the background of the current exceptional situation, we assess the result achieved as positive. Our financial ratios are once again very stable and we have delivered a strong operating performance. Not only does the operating result look good, it is also reflected in the cash position, which is important for an old-style CFO," commented CFO Thomas Mühleck on the figures. The slightly downward adjusted headcount of currently 1,200 employees is primarily due to the sale of the prefabrication activities of Kurtz GmbH.
