Brief: Bonava Provides Update On St.Petersburg Business

Bonava AB (publ)

01/03/2022 16:12

March 1 (Reuters) - Bonava AB (publ)  BONAVb.ST :
    * UPDATE CONCERNING THE CRISIS IN EUROPE AND ITS EFFECTS ON
OUR
BUSINESS
    * THIS IS TOO EARLY TO CONCLUDE BUT WE WANT TO INCREASE OUR
TRANSPARENCY REGARDING ST. PETERSBURG BUSINESS GIVEN CURRENT
SITUATION
    * IN 2021, NET SALES IN ST. PETERSBURG CORRESPONDED TO ABOUT
5% OF
GROUP'S NET SALES
    * BONAVA HAVE NO PLANNED CONSTRUCTION STARTS IN ST.
PETERSBURG
BUSINESS IN THE FIRST QUARTER
    * SHORT-TERM THE ANNOUNCEMENT FROM THE RUSSIAN CENTRAL BANK
THAT
THEY ARE INCREASING THE REPO RATE TO 20 PER CENT WILL HAVE
LIMITED EFFECT ON BONAVA
    * DOMESTIC PROJECT FINANCING WILL NOT BE AFFECTED TO A LARGE
EXTENT SINCE BOTH FUNDING AND BORROWING ARE BASED ON REPO RATE

Source text for Eikon:  ID:nWkr7gkVsQ 
Further company coverage:  BONAVb.ST 

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