March 26, 2020 / 4:10 PM / 11 days ago

BRIEF-Valora Effekten Handel Business Affected By Coronavirus

March 26 (Reuters) - VALORA EFFEKTEN HANDEL AG:

* IN THE FIRST QUARTER OF 2020, NEGATIVE CORONAVIRUS EFFECTS IN PARTICULAR ON THE VALUATIONS OF OUR INVESTMENTS AND TRADING PORTFOLIOS

* DEPRECIATION WILL INEVITABLY OCCUR HERE AT THE END OF THE QUARTER. AS OF TODAY, THE DEVALUATIONS ARE OVER EUR 200,000

* AS A PRECAUTION WE REDUCE THE PLANNED RESULT FROM THE ORIGINAL EUR 100 THOUSAND TO A BALANCED RESULT

* FOR 2020 WE SEESALES OF EUR 6-7 MILLION AND WITH A BALANCED ANNUAL RESULT BEFORE ANY ADDITION TO THE “FUND FOR GENERAL BANKING RISKS”

* LIQUIDITY RISKS CANNOT BE IDENTIFIED DUE TO THE HIGH LEVEL OF EQUITY FINANCING FOR THE 2020 FINANCIAL YEAR

* OUR BUSINESS OPERATIONS THEMSELVES CONTINUE TO OPERATE Source text for Eikon: Further company coverage: (Gdansk Newsroom)

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