Italy's De' Longhi reviews valuation of some Ukrainian assets amid conflict
12/05/2022 15:13
MILAN, May 12 (Reuters) - Italian home appliances maker De'
Longhi DLG.MI said on Thursday it had reviewed the valuation
of some of its assets in the Ukrainian market and has suspended
all investments and the distribution of new supplies to Russia.
The company said non-recurring expenses for the first
quarter of the year included a review of some assets for a
negative amount of about 5.1 million euros ($5.31 million), in
addition to a 1 million euro donation for charities supporting
the Ukrainian population.
The group confirmed its guidance despite significant
uncertainties regarding the macroeconomic and geopolitical
scenario, including the Ukrainian conflict and inflation.
($1 = 0.9608 euros)
(Reporting by Federico Maccioni, editing by Giulia Segreti)
((Federico.maccioni@thomsonreuters.com; +39 3420768883;))