Brief: Altia Q1 Comparable EBITDA Up At EUR 5.5 Million

Anora Oyj

29/04/2020 06:34

April 29 (Reuters) - Altia Oyj  ALTIA.HE :
    * ALTIA PLC JANUARY-MARCH 2020: PROFITABILITY IMPROVED IN A
SOLID
Q1, UNCERTAINTY FOR THE REST OF THE YEAR, GUIDANCE IS SUSPENDED
    * Q1 REVENUE EUR 68.2 MILLION VERSUS EUR 73.8 MILLION YEAR
AGO
    * Q1 COMPARABLE EBITDA EUR 5.5 MILLION VERSUS EUR 4.3
MILLION YEAR
AGO
    * SUSPENDS ITS GUIDANCE FOR 2020 DUE UNCERTAINTIES RELATED
TO
COVID-19
    * NEW GUIDANCE IS PROVIDED IF IMPACTS OF COVID-19 ON
OPERATING
ENVIRONMENT AND BUSINESS CONDITIONS CAN BE ASSESSED IN A
RELIABLE MANNER.
    * DURING Q1 OF 2020, ALTIA'S NET SALES DECLINED BY 6.0% IN
CONSTANT CURRENCIES
    * DECLINE WAS DUE TO PHASING OF ALTIA INDUSTRIAL'S CONTRACT
MANUFACTURING VOLUMES AND BARLEY PRICE NORMALISING
    * IN FINLAND & EXPORTS SEGMENT, NET SALES DECLINED DESPITE
HIGHER
VOLUMES IN MONOPOLY CHANNEL IN Q1
    * WE SEE A NEGATIVE IMPACT FROM WEAK SEK AND NOK, AND
BUSINESS
TRANSFER IN DENMARK LAST YEAR.
    * AS OF Q2, WE WILL FACE FULL IMPACT OF CRISIS IN OUR
OPERATIONS.
    * WE ASSUME TRAVEL RETAIL, EXPORTS AND ON-TRADE CHANNELS TO
BE AT
OR CLOSE TO ZERO IN Q2.
    * E HAVE TAKEN MEASURES TO ADJUST OUR COST STRUCTURE.
    * WE HAVE FROZEN MARKETING ACTIVITIES IN CLOSED SALES
CHANNELS AND
HAVE IMPLEMENTED STRICT COST SAVING MEASURES IN ALL FUNCTIONS.
    * WE ARE ALSO IMPLEMENTING TEMPORARY LAY-OFFS OR PART-TIME
WORK IN
FINLAND, SWEDEN AND NORWAY
    * IN Q2, WE ARE FOCUSING OUR SALES AND MARKETING EFFORTS ON
OPEN
SALES CHANNELS
    * VISIBILITY FOR REST OF YEAR IS POOR AND FORECASTING
COVID-19
IMPACTS ON OPERATING ENVIRONMENT RELIABLY IS DIFFICULT.

Source text for Eikon:  ID:nWkr1PvdPV 
Further company coverage:  ALTIA.HE 

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