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Healthcare

BRIEF-Subsea 7 Withdraws 2020 Guidance, Issued On Feb. 27, 2020

April 1 (Reuters) - Subsea 7 SA:

* REG-SUBSEA 7 WITHDRAWS 2020 GUIDANCE, ISSUED ON 27 FEBRUARY 2020

* SUBSEA 7 SA - IT IS WITHDRAWING GUIDANCE AND OUTLOOK STATEMENTS ISSUED ON 27 FEBRUARY 202

* SUBSEA 7 SA - ON CORONAVIRUS: DUAL IMPACTS OF CORONAVIRUS AND SHARPLY LOWER COMMODITY PRICES REPRESENT A SIGNIFICANT HEADWIND TO PACE OF NEW AWARDS REQUIRED TO MEET PRIOR GUIDANCE

* SUBSEA 7 SA - IT IS POSSIBLE THAT MEASURES TAKEN AROUND WORLD TO CONTAIN VIRUS MAY IMPACT COMPANY’S ABILITY TO EXECUTE EXISTING CONTRACTS AND RECOGNISE REVENUE IN 2020

* SUBSEA 7 SA - COMPANY HAS SIGNIFICANT LIQUIDITY AVAILABLE TO WEATHER THESE CHALLENGES, WITH $398 MILLION CASH AND EQUIVALENTS, AS WELL AS UNDRAWN BANKING FACILITIES OF $656 MILLION Source text for Eikon: Further company coverage: (Gdynia Newsroom)

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