Brief: Efecte FY EBITDA Loss Narrows To 1.0 Million Euros

Efecte Oyj

24/03/2020 06:53

March 24 (Reuters) - Efecte Oyj  EFECTE.HE :
    * DUE TO CORONAVIRUS SITUATION, EFECTE WILL ISSUE GUIDANCE
FOR
YEAR 2020 LATER
    * FY EBITDA WAS -1.0 MILLION EURO (-2.0) AND OPERATING
PROFIT -1.4
MILLION EURO
    * EFECTE'S FY NET SALES IN 1-12/2019 WERE 13.8 MILLION EURO
VERSUS
12.2 MILLION EURO
    * PANDEMIC CAUSED BY COVID-19 IS BLURRING SHORT-TERM OUTLOOK
    * SEES EFFECTS OF CORONAVIRUS IN SHORT TERM MOST VISIBLE IN
SERVICES BUSINESS
    * IN 2019, LEGACY MAINTENANCE REVENUE REMAINED,
EXCEPTIONALLY,
STABLE AT PREVIOUS YEAR LEVELS BUT IN 2020 SEE RETURN TO
DOWNWARD TRAJECTORY
    * BOARD OF DIRECTORS PROPOSES THAT NO DIVIDEND IS
DISTRIBUTED FROM
FINANCIAL PERIOD OF 2019 AND PROFIT IS LEFT IN EQUITY
    * EXPECT NET SALES IN TRADITIONAL MAINTENANCE TO DECREASE IN
2020
BUT CURRENTLY IT MAKES UP ONLY 10 % OF OUR TOTAL NET SALES
    * DUE TO CORONAVIRUS, WE DO NOT AT THIS STAGE GIVE GUIDANCE
FOR
YEAR 2020

Source text for Eikon:  ID:nGNE98qg2Z 
Further company coverage:  EFECTE.HE 

 (Gdansk Newsroom)
 ((gdansk.newsroom@thomsonreuters.com; +48 58 772 0920;))