April 23, 2020 / 6:11 AM / 3 months ago

BRIEF-Munters Q1 EBIT Rises To SEK 110 Million

April 23 (Reuters) - Munters Group AB:

* OUTBREAK OF COVID-19 IMPACTED MUNTERS IN Q1

* DEMAND WAS ROBUST IN JANUARY AND FEBRUARY, EXCEPT IN CHINA THAT WAS AFFECTED BY OUTBREAK IN FEBRUARY.

* IN MARCH DEMAND WAS NEGATIVELY IMPACTED BY OUTBREAK IN EUROPE AND AMERICAS

* IN CHINA, DEMAND RECOVERED SOMEWHAT MID-MARCH.

* IN Q1, OUTBREAK OF COVID-19 HAD AN IMPACT ON MUNTERS

* ALL OUR PRODUCTION UNITS, EXCEPT TWO MINOR UNITS, HAVE MANAGED OPERATIONS THROUGHOUT QUARTER WITHOUT ANY MAJOR DISTURBANCES

* NET SALES DECLINED ORGANICALLY BY -7%, MAINLY DRIVEN BY LOWER DEMAND IN INDUSTRIAL SEGMENT IN ALL REGIONS IN BUSINESS AREA AIRTECH

* Q1 NET SALES SEK 1,566 MILLION VERSUS SEK 1,620 MILLION YEAR AGO

* FOR COMING QUARTERS WE EXPECT A CHALLENGING BUSINESS ENVIRONMENT WITH A LARGER IMPACT FROM COVID-19 OUTBREAK THAN SEEN IN Q1

* AT THIS TIME, VISIBILITY OF EFFECT FROM OUTBREAK IS LIMITED

* WE CURRENTLY HAVE A HEALTHY ORDER BACKLOG BUT DEPENDING ON LENGTH AND SEVERITY OF OUTBREAK WE SEE AN INCREASED RISK FOR PROJECT DELAYS

* Q1 EBIT SEK 110 MILLION VERSUS SEK 38 MILLION YEAR AGO Source text for Eikon: Further company coverage: (Gdansk Newsroom)

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