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Healthcare

BRIEF-Saras Q1 Comparable Net Loss At EUR 0.4 Mln

May 14 (Reuters) - Saras SpA:

* Q1 REVENUE EUR 1.89 BILLION VERSUS EUR 2.09 BILLION YEAR AGO

* Q1 COMPARABLE NET LOSS EUR 0.4 MILLION VERSUS LOSS EUR 13 MILLION IN CONSENSUS PROVIDED BY COMPANY

* UNCERTAINTY DOES NOT ALLOW TO ESTIMATE IMPACTS OF COVID-19 ON 2020 RESULTS

* Q1 COMPARABLE EBITDA EUR 56.7 MILLION VERSUS EUR 37 MILLION IN CONSENSUS PROVIDED BY COMPANY

* TO MITIGATE FINANCIAL IMPACT OF COVID 19, COMPANY LAUNCHED COST REDUCTION PLAN AND A REVIEW OF INVESTMENT PLAN

* CONFIRMS ITS OBJECTIVE OF ACHIEVING AVERAGE PREMIUM ABOVE EMC BENCHMARK MARGIN OF 2.5 - 3.0 $/BL

* IMPROVEMENT IN NET FINANCIAL POSITION IS EXPECTED IN H2

* IN ORDER TO FURTHER REINFORCE FINANCIAL STRENGTH AND CONTAIN FUTURE FINANCIAL IMPACTS, COMPANY HAS STARTED NEGOTIATION OF NEW MEDIUM/LONG-TERM CREDIT LINES Source text: bit.ly/3cwxgcj Further company coverage: (Gdansk Newsroom)

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