May 20, 2020 / 8:58 PM / in 16 days

BRIEF-Fonterra Posts 9-Month Revenue Of NZ$16 Billion

May 21 (Reuters) - Fonterra Co-Operative Group Ltd:

* 2020 FORECAST EPS RANGE 15-25 CENTS PER SHARE

* FONTERRA SEES 2019-20 FARMGATE MILK PRICE RANGE NZ$7.10 - NZ$7.30 PER KGMS

* 9-MTH NORMALISED EBIT NZ$815 MLN VS NZ$514 MLN

* OPENING 2020/21 FORECAST FARMGATE MILK PRICE RANGE: NZ$5.40 - NZ$6.90 PER KGMS

* WE WILL FEEL IMPACT OF COVID-19 AND ITS FLOW-ON EFFECTS BUT HOW AND TO WHAT EXTENT IS STILL UNCERTAIN

* SALES IN CHINA BOUNCED BACK TO MORE NORMAL LEVELS IN MARCH AND THIS CONTINUED IN APRIL

* EXPECT IMPACT OF COVID-19 ACROSS OUR FOODSERVICE TO SHOW UP IN Q4 RESULTS

* NOW SEEING IMPACT OF COVID-19 ACROSS OUR FOODSERVICE BUSINESSES IN OCEANIA, SOUTH EAST ASIA AND LATIN AMERICA

* FONTERRA SEES FY UNDERLYING EARNINGS TO BE AT TOP HALF OF THE RANGE

* NARROWED 2019/2020 FORECAST FARMGATE MILK PRICE RANGE FOR SEASON TO NZ$7.10 - NZ$7.30 PER KGMS, WITH A MID-POINT OF NZ$7.20 PER KGMS

* 9-MONTH REVENUE NZ$16 BILLION VERSUS NZ$15 BILLION

* COVID-19 ADDS SIGNIFICANT UNCERTAINTY INTO FORECASTING WHAT WILL HAPPEN WITH GLOBAL DAIRY PRICES OVER NEXT 15 MONTHS Source text for Eikon: Further company coverage: (Reuters.Briefs@thomsonreuters.com)

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