April 30, 2020 / 5:59 AM / 25 days ago

BRIEF-Wendel Withdraws 2020 Outlook

April 30 (Reuters) - WENDEL SE:

* Q1 2020 CONSOLIDATED NET SALES: EUR 1,875.1 MILLION, DOWN 2.5% OVERALL AND DOWN 2.9% ORGANICALLY YEAR-ON-YEAR

* NET ASSET VALUE AS OF MARCH 31, 2020: EUR 5,280 MILLION OR EUR 118.2 PER SHARE, DOWN 28.9% SINCE DECEMBER 31, 2019 (EUR 166.3 PER SHARE)

* WENDEL’S ANNUAL GENERAL MEETING IS POSTPONED TO JULY 2, 2020

* CANCELLATION OF DIVIDEND DUE TO BE PROPOSED FOR 2019 FINANCIAL YEAR

* EXPECTS VERY SIGNIFICANT IMPACT ON Q2 OF 2020, DUE TO LOCKDOWN MEASURES THAT HAVE BEEN PUT IN PLACE IN EUROPE, UNITED STATES AND LATIN AMERICA NOTABLY

* OUTLOOK: 2020 TARGETS ARE NO LONGER RELEVANT

* OUTLOOK: PREMATURE TO PROVIDE A FIRM VIEW ON 2020 AT THIS STAGE Source text for Eikon: Further company coverage: (Gdansk Newsroom)

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