Brief: Brunel International Decides Not To Pay 2019 Dividends Due To Coronavirus
27/03/2020 07:39
March 27 (Reuters) - BRUNEL INTERNATIONAL NV BRUN.AS :
* PROVIDES AN UPDATE ON ITS CURRENT BUSINESS IN LIGHT OF
IMPACT OF
CORONAVIRUS (COVID-19) OUTBREAK AND RECENT VOLATILITY IN MARKETS
* TO DATE, NO MATERIAL ADVERSE IMPACT ON REVENUES HAS BEEN
OBSERVED FROM COVID-19, NOR ON CASH
* WE HAVE TAKEN PRUDENT DECISION NOT TO PAY OUT 2019
DIVIDENDS
* BASED ON THE MOST RECENT PREDICTIONS ON ECONOMIC GROWTH,
OR THE
LACK THEREOF, WE ANTICIPATE A LOWER LEVEL OF ACTIVITIES FOR THE
REMAINDER OF 2020
* WE ANTICIPATE THAT THE DACH REGION AND THE NETHERLANDS
WILL BE
AFFECTED WITHIN THE NEXT COUPLE OF WEEKS, AFFECTING OUR Q2
RESULTS
* CURRENT CONDITIONS AND LOW OIL PRICE WILL CAUSE DELAYS OR
CANCELLATIONS OF PROJECTS
* AS A CONSEQUENCE, MOST OF OTHER REGIONS ARE LIKELY TO BE
IMPACTED IN COURSE OF THIS YEAR DUE TO LACK OF NEW LARGE
PROJECTS
* ON CORONAVIRUS: OVERALL IMPACT WILL DEPEND ON HOW FAST
COVID-19
CAN BE CONTROLLED, AND HOW SOON ECONOMIES CAN START RECOVERING
* BRUNEL'S FINANCIAL POSITION REMAINS STRONG AND WE HAVE
SUFFICIENT CASH AND BORROWING BASE TO DEAL WITH THESE
CIRCUMSTANCES
* IN TIMES OF DECLINING ACTIVITIES, OUR CASHFLOW IS
SUPPORTED BY
RELEASE OF WORKING CAPITAL
Source text for Eikon: ID:nGNE2rx4M6
Further company coverage: BRUN.AS
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