Brief: RNB Retail And Brands Announces Preliminary Results For Q4 2018/19

Coala-Life AB (publ)

30/09/2019 06:39

Sept 30 (Reuters) - Rnb Retail and Brands AB (publ)
 RNBS.ST :
    * PRELIMINARY RESULTS FOR RNB'S FOURTH QUARTER 2018/19
    * OPERATING RESULT FOR RNB RETAIL AND BRANDS AB ("RNB") IN
Q4 OF
2018/19 IS ESTIMATED TO BE APPROXIMATELY BETWEEN SEK -35 AND -39
MILLION
    * IN ADDITION, OPERATING RESULT FOR Q4 WILL BE ADVERSELY
AFFECTED
BY IMPAIRMENT OF GOODWILL OF SEK 65 MILLION
    * EBITDA EXCLUDING RESTRUCTURING COSTS IS EXPECTED TO AMOUNT
TO
BETWEEN SEK 25 AND 29 MILLION FOR FULL YEAR.
    * BOARD OF DIRECTORS HAS IN ITS MEETING TODAY ALSO APPROVED
A
GOODWILL IMPAIRMENT OF 65 MILLION PERTAINING TO BUSINESS AREA,
DEPARTMENTS & STORES
    * RATIONALIZATION WORK IS IN PROGRESS IN ALL THREE BUSINESS
AREAS
WITH PLANNED MEASURES REGARDING HOURS IN STORE, STAFFING AT HEAD
OFFICE AND CONTINUED WORK ON INVENTORY REDUCTION
    * NON-CASH IMPAIRMENT WRITE-DOWN WILL AFFECT RESULT FOR Q4
OF
2018/19
    * RATIONALIZATION WORK'S FULL COST EFFECT IS EXPECTED TO BE
ACHIEVED AT END OF SECOND HALF OF 2019/20 FISCAL YEAR
    * CASH FLOW AFTER INVESTMENTS IS ESTIMATED TO BE NEGATIVE BY
APPROXIMATELY SEK 7 MILLION FOR FULL YEAR

Source text for Eikon:  ID:nWkr8JGcmv 
Further company coverage:  RNBS.ST 

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