April 29, 2020 / 5:38 AM / a month ago

BRIEF-Altia Q1 Comparable EBITDA Up At EUR 5.5 Million

April 29 (Reuters) - Altia Oyj:

* ALTIA PLC JANUARY-MARCH 2020: PROFITABILITY IMPROVED IN A SOLID Q1, UNCERTAINTY FOR THE REST OF THE YEAR, GUIDANCE IS SUSPENDED

* Q1 REVENUE EUR 68.2 MILLION VERSUS EUR 73.8 MILLION YEAR AGO

* Q1 COMPARABLE EBITDA EUR 5.5 MILLION VERSUS EUR 4.3 MILLION YEAR AGO

* SUSPENDS ITS GUIDANCE FOR 2020 DUE UNCERTAINTIES RELATED TO COVID-19

* NEW GUIDANCE IS PROVIDED IF IMPACTS OF COVID-19 ON OPERATING ENVIRONMENT AND BUSINESS CONDITIONS CAN BE ASSESSED IN A RELIABLE MANNER.

* DURING Q1 OF 2020, ALTIA’S NET SALES DECLINED BY 6.0% IN CONSTANT CURRENCIES

* DECLINE WAS DUE TO PHASING OF ALTIA INDUSTRIAL’S CONTRACT MANUFACTURING VOLUMES AND BARLEY PRICE NORMALISING

* IN FINLAND & EXPORTS SEGMENT, NET SALES DECLINED DESPITE HIGHER VOLUMES IN MONOPOLY CHANNEL IN Q1

* WE SEE A NEGATIVE IMPACT FROM WEAK SEK AND NOK, AND BUSINESS TRANSFER IN DENMARK LAST YEAR.

* AS OF Q2, WE WILL FACE FULL IMPACT OF CRISIS IN OUR OPERATIONS.

* WE ASSUME TRAVEL RETAIL, EXPORTS AND ON-TRADE CHANNELS TO BE AT OR CLOSE TO ZERO IN Q2.

* E HAVE TAKEN MEASURES TO ADJUST OUR COST STRUCTURE.

* WE HAVE FROZEN MARKETING ACTIVITIES IN CLOSED SALES CHANNELS AND HAVE IMPLEMENTED STRICT COST SAVING MEASURES IN ALL FUNCTIONS.

* WE ARE ALSO IMPLEMENTING TEMPORARY LAY-OFFS OR PART-TIME WORK IN FINLAND, SWEDEN AND NORWAY

* IN Q2, WE ARE FOCUSING OUR SALES AND MARKETING EFFORTS ON OPEN SALES CHANNELS

* VISIBILITY FOR REST OF YEAR IS POOR AND FORECASTING COVID-19 IMPACTS ON OPERATING ENVIRONMENT RELIABLY IS DIFFICULT. Source text for Eikon: Further company coverage: (Gdansk Newsroom)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below