Brief: Cementir Holding Q1 Pre-Tax Loss Widens To EUR 5.0 Mln

Cementir Holding NV

13/05/2020 15:36

May 13 (Reuters) - Cementir Holding NV  CEMI.MI :
    * Q1 REVENUE EUR 266.9 MILLION VERSUS EUR 264.4 MILLION YEAR
AGO
    * Q1 PRE-TAX LOSS EUR 5.0 MILLION VERSUS LOSS EUR 0.3
MILLION YEAR
AGO
    * ON COVID-19, GIVEN UNPRECEDENTED LEVEL OF UNCERTAINTY WE
ARE
WITHDRAWING OUR PREVIOUSLY-ISSUED FULL-YEAR 2020 GUIDANCE
    * WE EXPECT TO PROVIDE AN UPDATE AFTER OUR FIRST HALF 2020
RESULTS
    * IMPACT OF SLOW-DOWN IN DEMAND AND COVID-19 LOCKDOWN WILL
DETERMINE FURTHER CONTRACTION IN GROUP SALES VOLUMES IN WESTERN
EUROPE, TURKEY AND US IN Q2 2020
    * IN CHINA AND MALAYSIA OPERATIONS RESTARTED AND ARE
PROGRESSING
TOWARDS A NORMALIZATION
    * WE EXPECT NORTHERN EUROPE TO REMAIN RELATIVELY UNSCATHED
BY
GENERAL SLOWDOWN WITH THE EXCEPTION OF NORWAY
    * WE ARE IMPLEMENTING COMPREHENSIVE MITIGATING ACTIONS TO
REDUCE
COSTS, PRESERVE CASH AND RESTRICT CAPITAL EXPENDITURE
    * WE ARE POSTPONING ALL NON NECESSARY CAPEX BY A FEW
QUARTERS, UP
TO EUR 30 MILLION
    * COVID-19 IMPACT WAS MARGINAL, MAINLY IN MONTH OF MARCH AND
CONFINED TO BELGIUM AND FRANCE AND, TO A LESSER EXTENT, TO CHINA
AND MALAYSIA - CHAIRMAN

Source text for Eikon:  urn:newsml:reuters.com:*:nBIA2LbWz8
Further company coverage:  CEMI.MI 

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