Brief: Drone Volt Updates On Consequences Of Covid-19

Drone Volt SA

05/03/2020 17:48

March 5 (Reuters) - Drone Volt SA  ALDRV.PA :
    * PROVIDES AN UPDATE ON THE CONSEQUENCES OF COVID-19 AND
ADAPTATION MEASURES
    * ON CORONAVIRUS: FACES EXTENDED LEAD TIMES FOR ELECTRONIC
COMPONENTS FROM CHINA DUE TO SHUTDOWN OF FACTORIES AND SHARP
REDUCTION IN FREIGHT AVAILABILITY
    * ANNOUNCES THAT ITS ACTIVITY WILL BE LESS BUOYANT THAN
EXPECTED
IN Q1 2020
    * THE GROUP HAS DECIDED TO RESORT TO SHORT-TIME WORKING FOR
CERTAIN EMPLOYEES DEPRIVED OF ACTIVITY IN ORDER TO LIMIT THE
IMPACT OF THIS PARTIAL STOPPAGE OF ACTIVITY ON ITS FINANCIAL
SITUATION
    * MOST CHINESE SUPPLIERS ANNOUNCE THAT THEY WILL RESUME
SUPPLIES
AT THE BEGINNING OF APRIL, WHICH WOULD ALLOW A RETURN TO NORMAL
IN THE SECOND QUARTER
    * NEVERTHELESS REMAINS VERY CONFIDENT ABOUT THE COMING YEAR.
TO
DATE, THE GROUP HAS NOT RECORDED ANY ORDER CANCELLATIONS

Source text: https://bit.ly/38s2vCz
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