November 23, 2016 / 7:40 AM / 13 days ago

BRIEF-Vapiano SE Says Substantial Decrease In Net Sales And Results Due To Covid-19 Crisis

March 16 (Reuters) - Vapiano SE:

* DGAP-ADHOC: VAPIANO SE: SUBSTANTIAL DECREASE IN NET SALES AND RESULTS DUE TO COVID-19 CRISIS, ADDITIONAL TEMPORARY LIQUIDITY NEEDS, EXPECTED LOSS OF HALF OF THE SHARE CAPITAL

* VAPIANO - DUE TO CURRENT COVID-19 CRISIS AFFECTING ALL OF VAPIANO’S CORE MARKETS, CURRENTLY FACING SUBSTANTIAL DECREASE OF NET SALES OF ABOUT 20 %

* VAPIANO - RESTAURANTS IN AUSTRIA, NETHERLANDS, LUXEMBURG, FRANCE,U.S. ON OFFICIAL ORDER BY LOCAL AUTHORITIES CLOSED TEMPORARILY UNTIL FURTHER NOTICE

* EXPECTS A SIGNIFICANT DECREASE OF ADJUSTED EBTIDA, GROUP NET INCOME IN FIRST AND Q2 OF 2020

* COVID-19 CRISIS LEADS TO A FURTHER NEED FOR LIQUIDITY IN SHORT TERM OF CURRENTLY AT LEAST 13.6 MILLION EURO

* VAPIANO - LIQUIDITY NEED DUE TO COVID-19 DOES NOT YET INCLUDE IMPACT OF CLOSURE IN FRANCE AND FURTHER CLOSURES ANNOUNCED SINCE MARCH 15TH Source text for Eikon: Further company coverage:

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