April 27, 2020 / 10:40 AM / a month ago

BRIEF-Indutrade Q1 EBITA Rises To SEK 616 Mln

April 27 (Reuters) - Indutrade AB:

* INTERIM REPORT 1 JANUARY - 31 MARCH 2020

* Q1 ORDER INTAKE SEK 5,401 MILLION VERSUS SEK 4.61 BILLION YEAR AGO

* Q1 NET SALES SEK 4,976 MILLION VERSUS SEK 4,366 MILLION YEAR AGO

* Q1 OPERATING PROFIT BEFORE AMORTISATION OF INTANGIBLE NON-CURRENT ASSETS ATTRIBUTABLE TO ACQUISITIONS (EBITA) ROSE 15% TO SEK 616 MILLION (537)

* ON CORONAVIRUS: DURING Q1, OVERALL IMPACT OF COVID-19 PANDEMIC WAS LIMITED

* FINANCIAL POSITION IS STRONG AND IT IMPROVED EVEN FURTHER AFTER END OF QUARTER WHEN INDUTRADE EXTENDED SHORT-TERM LOANS TOTALLING SEK 800 MILLION BY MORE THAN THREE YEARS

* EVEN THOUGH DEMAND FOR MANY OF OUR COMPANIES CONTINUES TO DEVELOP POSITIVELY, OUR ASSESSMENT IS THAT OVERALL ORGANIC GROWTH DURING NEXT QUARTER WILL BE NEGATIVE

* ALL OF OUR COMPANIES THAT ARE EXPERIENCING A DECLINE IN ORDER INTAKE ARE WORKING WITH VARIOUS TYPES OF COST REDUCTION MEASURES AND MANY HAVE EVEN TEMPORARILY LAID OFF EMPLOYEES. Source text for Eikon: Further company coverage: (Gdansk Newsroom)

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