April 23, 2020 / 11:07 AM / a month ago

BRIEF-Trelleborg Q1 EBIT Ex-Items Falls To SEK 1,235 Mln

April 23 (Reuters) - Trelleborg AB:

* INTERIM REPORT JANUARY - MARCH 2020

* REFINITV POLL: REVENUE SEEN AT SEK 9.27 BILLION, EBIT AT SEK 1.09 BILLION

* MARKET OUTLOOK FOR Q2 2020: DEMAND IS EXPECTED TO BE SIGNIFICANTLY LOWER THAN IN Q1 OF 2020, ADJUSTED FOR SEASONAL VARIATIONS

* Q1 EBIT, EXCLUDING ITEMS AFFECTING COMPARABILITY, AMOUNTED TO SEK 1,235 M (1,295)

* NET SALES FOR Q1 OF 2020 DECLINED 1 PERCENT TO SEK 9,286 M (9,381)

* GROUP WAS AFFECTED BY CORONAVIRUS (COVID-19), PARTICULARLY DURING LATTER PART OF QUARTER.

* ON CORONAVIRUS: EFFECTS OF COVID-19 ARE EXPECTED TO IMPACT SALES AND EARNINGS SIGNIFICANTLY MORE DURING COMING QUARTERS COMPARED WITH Q1.

* SALES AND EARNINGS IN TRELLEBORG INDUSTRIAL SOLUTIONS WERE NEGATIVELY IMPACTED BY STRIKES IN TURKEY AND FRANCE, AS WELL AS COVID-19.

* ALL MARKET SEGMENTS AND REGIONS WERE INCREASINGLY IMPACTED BY THEIR OWN AND CUSTOMERS’ TEMPORARY FACILITY CLOSURES.

* DURING NEXT QUARTERS, NEGATIVE IMPACT ON DEMAND WILL BE CONSIDERABLE DUE TO ALL OF DIRECT AND INDIRECT EFFECTS ARISING FROM COVID-19 PANDEMIC.

* TRELLEBORG HAS A STRONG FINANCIAL BASE, WITH GOOD LIQUIDITY AND LONG-TERM CONFIRMED FINANCING IN PLACE, AND GROUP STANDS WELL-EQUIPPED TO FACE CHALLENGING TIMES

* OVERALL ASSESSMENT IS THAT DEMAND WILL BE SIGNIFICANTLY LOWER DURING Q2

* Q1 ORGANIC SALES DECLINED 5 PERCENT. Source text for Eikon: Further company coverage: (Gdansk Newsroom)

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