Corona crisis: Kuka posts loss in the first quarter

The German robot manufacturer Kuka slipped into the red in the first quarter. The bottom line was a loss of EUR 22 million after a profit of EUR 15 million in the same period last year. Sales fell by around 15 percent to EUR 625 million. Incoming orders dropped by almost a quarter to 689 million euros from January to March 2020.

The company justified the decline with the corona crisis. Worldwide, numerous customers have closed their production and postponed investments due to the unforeseeable effects of the pandemic. Because of the crisis, the company had already given up its annual outlook. The impact of the pandemic could not yet be estimated, the company said when it presented the 2019 balance sheet at the end of March. (APA / dpa)

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