March 5, 2020 / 5:52 PM / a month ago

BRIEF-Drone Volt Updates On Consequences Of Covid-19

March 5 (Reuters) - Drone Volt SA:

* PROVIDES AN UPDATE ON THE CONSEQUENCES OF COVID-19 AND ADAPTATION MEASURES

* ON CORONAVIRUS: FACES EXTENDED LEAD TIMES FOR ELECTRONIC COMPONENTS FROM CHINA DUE TO SHUTDOWN OF FACTORIES AND SHARP REDUCTION IN FREIGHT AVAILABILITY

* ANNOUNCES THAT ITS ACTIVITY WILL BE LESS BUOYANT THAN EXPECTED IN Q1 2020

* THE GROUP HAS DECIDED TO RESORT TO SHORT-TIME WORKING FOR CERTAIN EMPLOYEES DEPRIVED OF ACTIVITY IN ORDER TO LIMIT THE IMPACT OF THIS PARTIAL STOPPAGE OF ACTIVITY ON ITS FINANCIAL SITUATION

* MOST CHINESE SUPPLIERS ANNOUNCE THAT THEY WILL RESUME SUPPLIES AT THE BEGINNING OF APRIL, WHICH WOULD ALLOW A RETURN TO NORMAL IN THE SECOND QUARTER

* NEVERTHELESS REMAINS VERY CONFIDENT ABOUT THE COMING YEAR. TO DATE, THE GROUP HAS NOT RECORDED ANY ORDER CANCELLATIONS Source text: bit.ly/38s2vCz Further company coverage: (Gdansk Newsroom)

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