March 19, 2020 / 3:37 PM / 16 days ago

BRIEF-SFC Energy Withdraws FY Guidance

March 19 (Reuters) - SFC ENERGY AG:

* WITHDRAWS GUIDANCE FOR CURRENT FINANCIAL YEAR DUE TO COVID-19 PANDEMIC AND NEGATIVE OIL PRICE DEVELOPMENT

* STABLE AND SUFFICIENTLY RELIABLE GUIDANCE FOR CURRENT FINANCIAL YEAR IS CURRENTLY NOT POSSIBLE

* EXPECTS DEMAND IN INDUSTRY AND OIL & GAS SEGMENTS TO SLOW CONSIDERABLY IN SECOND AND THIRD QUARTERS OF 2020

* DECIDED ON MEASURES TO REDUCE PERSONNEL AND MATERIAL COSTS IN INDUSTRY AND OIL AND GAS SEGMENTS

* IN DEFENSE & SECURITY SEGMENT, SFC ENERGY EXPECTS A SIGNIFICANT DELAY IN DEMAND IN FIRST HALF OF YEAR

* CONSIDERS A SIGNIFICANT INCREASE IN DEMAND IN DEFENSE AND SECURITY IN SECOND HALF OF CURRENT FINANCIAL YEAR TO BE POSSIBLE Source text for Eikon: Further company coverage: (Gdansk Newsroom)

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