May 18, 2020 / 4:10 PM / 7 days ago

BRIEF-Gestamp Automocion Q1 Net Profit Down At 14 Mln Euros YoY

May 18 (Reuters) - Gestamp Automocion SA:

* Q1 REVENUE 2.01 BILLION EUROS VERSUS 2.17 BILLION EUROS YEAR AGO

* Q1 EBITDA 193 MILLION EUROS VERSUS 249 MILLION EUROS YEAR AGO

* Q1 NET PROFIT 14 MILLION EUROS VERSUS 41 MILLION EUROS YEAR AGO

* SAYS CHALLENGING AUTO PRODUCTION MARKET WITH VOLUMES EXPECTED TO DECLINE BY -23.0% IN 2020

* SEES Q2 ESPECIALLY IMPACTED BY COVID-19 AND STILL MANY UNCERTAINTIES AROUND H2 AND 2021

* SAYS ACTIONS IMPLEMENTED TO STRENGTHEN LIQUIDITY POSITION TO ABOUT 2.0 BILLION EUROS

* Q1 CAPEX REDUCTION OF 27% VERSUS Q1 2019

* SAYS NEW FINANCIAL OBJECTIVES TO BE PRESENTED ONCE THERE IS MORE VISIBILITY Source text for Eikon: Further company coverage: (Gdansk Newsroom)

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