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Healthcare

BRIEF-Wärtsilä Launches Actions To Mitigate Impact Of COVID-19 And Withdraws Its Market Outlook

March 31 (Reuters) - Wartsila Oyj Abp:

* WÄRTSILÄ LAUNCHES ACTIONS TO MITIGATE THE IMPACT OF COVID-19 AND WITHDRAWS ITS MARKET OUTLOOK

* WARTSILA OYJ ABP - LENGTH AND DEPTH OF DOWNTURN REMAIN TO BE SEEN.

* WARTSILA OYJ ABP - ECONOMIC ACTIVITY IS EXPECTED TO SLOW DOWN GLOBALLY. LENGTH AND DEPTH OF DOWNTURN REMAIN TO BE SEEN

* WARTSILA OYJ ABP - MARKETS IN WHICH WÄRTSILÄ OPERATES ARE INCREASINGLY BEING AFFECTED BY CORONAVIRU

* WARTSILA OYJ ABP - ORDER INTAKE AND INVOICING HAVE DEVELOPED LARGELY IN LINE WITH EXPECTATIONS IN JANUARY AND FEBRUARY

* WARTSILA OYJ ABP - MOST FACTORIES ARE IN OPERATION AT THIS TIME, BUT THEY ARE RUNNING AT A LOWER THAN USUAL CAPACITY.

* WARTSILA OYJ ABP - WÄRTSILÄ IS TAKING PROACTIVE STEPS TO MINIMISE NEGATIVE IMPACT ON ITS OPERATIONS GLOBALLY

* WARTSILA OYJ ABP - INTENSIFYING RESTRICTIONS ARE IMPACTING WÄRTSILÄ’S DELIVERY SCHEDULES, ACCESS TO CUSTOMER SITES, AND ABILITY TO PERFORM SERVICE ACTIVITIES

* WARTSILA OYJ ABP - WÄRTSILÄ HAS DECIDED TO WITHDRAW ITS MARKET OUTLOOK FOR 2020, UNTIL VISIBILITY HAS IMPROVED.

* WARTSILA OYJ ABP - SUPPLY CHAINS AND LOGISTICS ARE ALSO SEEING DISRUPTIONS

* WARTSILA OYJ ABP - WÄRTSILÄ EXPECTS THESE MEASURES TO GENERATE TEMPORARY COST SAVINGS IN RANGE OF EUR 100 MILLION

* WARTSILA OYJ ABP ON CORONAVIRUS: THIS WILL MATERIALLY IMPACT WÄRTSILÄ’S NET SALES AND EARNINGS FOR 2020 STARTING IN MARCH

* WARTSILA OYJ ABP - FULL FINANCIAL IMPACT CANNOT BE QUANTIFIED AT THIS TIME

* WARTSILA OYJ ABP - FIXED SALARIES OF MEMBERS OF WÄRTSILÄ’S BOARD OF MANAGEMENT WILL TEMPORARILY BE CUT BY 20%.

* WARTSILA OYJ ABP - TO WITHDRAW ITS MARKET OUTLOOK FOR 2020, UNTIL VISIBILITY HAS IMPROVE

* WARTSILA OYJ ABP - DETERIORATING MACROECONOMIC CONDITIONS AND EFFECT OF COVID-19 ON CUSTOMER OPERATIONS ARE EXPECTED TO LOWER DEMAND FOR WÄRTSILÄ’S SOLUTIONS AND SERVICES Source text for Eikon: Further company coverage: (Gdynia Newsroom)

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