March 2, 2020 / 10:11 AM / a month ago

BRIEF-Travelex Sees 25 Mln Stg Hit To Q1 Core Earnings Mostly Due To Malware

March 2 (Reuters) - Travelex:

* TRAVELEX - FOLLOWING CYBER-ATTACK, CO SAYS IT HAS SUCCESSFULLY RESTORED ALL ITS CUSTOMER-FACING SYSTEMS IN A PHASED AND CONTROLLED PROGRAMME

* TRAVELEX - ESTIMATES THERE WILL BE A REDUCTION OF UNDERLYING EBITDA IN Q1 OF ABOUT £25 MILLION ON LIKE-FOR-LIKE BASIS, MOSTLY ATTRIBUTABLE TO MALWARE

* TRAVELEX- OUTBREAK OF COVID-19 IS AN INCREMENTAL NEGATIVE FOR TRAVELEX’S BUSINESS GIVEN BROAD EXPOSURE TO AIRPORTS AND TRAVEL FLOWS

* TRAVELEX - DOES NOT EXPECT CYBER-ATTACK TO HAVE ANY MATERIAL IMPACT ON TRADING DURING PEAK PERIODS IN Q2 AND Q3 2020

* TRAVELEX - EXTENT OF COVID-19 AND THE PERIOD FOR WHICH IT CONTINUES CANNOT BE PREDICTED AT THIS TIME.

* TRAVELEX- IMPACT ON GLOBAL TRAVEL DURING REMAINDER OF 2020 AND ON TRAVELEX FULL YEAR PERFORMANCE IS UNCERTAIN Source text for Eikon: Further company coverage:

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