Brief: Adval Tech Says It Is Affected By Repercussions Of Coronavirus Crisis

Adval Tech Holding AG

21/04/2020 06:10

April 21 (Reuters) - ADVAL TECH HOLDING AG  ADVN.S :
    * AFFECTED BY REPERCUSSIONS OF CORONAVIRUS CRISIS
    * FY NET PROFIT OF CHF 8.7 MILLION AND EBIT OF CHF 10.3
MILLION
    * TO PROPOSE A DIVIDEND OF CHF 2.70 PER SHARE
    * IT IS NOT YET POSSIBLE TO PREDICT MEDIUM AND LONG-TERM
CONSEQUENCES OF COVID-19 PANDEMIC CRISIS
    * ADVAL TECH GROUP IS NOT GIVING SPECIFIC GUIDANCE ON TOTAL
INCOME
AND EBIT IN 2020
    * IS TEMPORARILY CLOSING DOWN ITS PRODUCTION ACTIVITIES AT
SEVERAL
SITES UNTIL FURTHER NOTICE
    * SITES IN NIEDERWANGEN (SWITZERLAND) AND ENDINGEN (GERMANY)
ARE
OPERATING AT A MINIMUM PRODUCTION LEVEL
    * HAS BROUGHT IN SHORT-TIME WORKING AT SOME COMPANIES,
OPERATIONS
AND DEPARTMENTS
    * BOARD OF DIRECTORS, EXECUTIVE MANAGEMENT AND MANAGING
DIRECTORS
OF ADVAL TECH SUBSIDIARIES TAKE VOLUNTARY FEE AND PAY CUT AS OF
APRIL 2020

Source text for Eikon:  ID:nTENzm8f9a 
Further company coverage:  ADVN.S 

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