March 23, 2020 / 6:43 AM / 13 days ago

BRIEF-Agora Says Coronavirus Epidemic To Have Significant Negative Impact On Group's Q2 Fin. Results

March 23 (Reuters) - Agora SA:

* ON CORONAVIRUS: RESULTS OF EPIDEMIC WILL HAVE SIGNIFICANT NEGATIVE IMPACT ON FINANCIAL RESULTS OF GROUP AND ITS UNITS IN Q2 2020

* CANNOT ASSESS FULL IMPACT OF PANDEMIC ON GROUP’S CURRENT AND FUTURE FINANCIAL RESULTS

* CO IS NEGATIVELY IMPACTED BY CLOSURES OF CINEMAS, RESTAURANTS, SLOWING ECONOMIC GROWTH, MOVIE PRODUCTION HALTS AND MOVIE PREMIERE DELAYS

* ON CORONAVIRUS: SEES INCREASED RISK OF CREATION OF PAYMENT GRIDLOCKS AT GROUP’S CONTRACTORS AND POTENTIAL ISSUES WITH RETRIEVING PAYMENTS DUE

* ALSO NEGATIVELY IMPACTED BY STAY AT HOME ORDERS, CLOSURES OF BOOK SALE POINTS AND POSSIBLE DIFFICULTIES WITH PRINT PRESS DISTRIBUTION

* ON CORONAVIRUS: NEGATIVE IMPACT ON GROUP’S COST LEVEL MAY BE ALSO CAUSED BY WEAKENING OF POLISH CURRENCY IN RELATION TO OTHER CURRENCIES

* CO HAS POSTPONED ALL EXPENDITURES INCLUDING CAPEX WHICH ARE NON-ESSENTIAL TO CONTINUATION OF CO’S BUSINESSES’ BASIC ACTIVITIES

* DESPITE CO’S STEPS SITUATION TO NEGATIVELY IMPACT GROUP’S Q2 RESULTS AND POSSIBLY SUBSEQUENT QUARTERS IN 2020 Source text for Eikon: Further company coverage: (Gdansk Newsroom)

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