Brief: Genovis Q1 EBITDA Swings To Loss SEK 0.8 Million

Genovis AB

29/04/2020 07:06

April 29 (Reuters) - Genovis AB  GENOb.ST :
    * INTERIM REPORT JANUARY - MARCH 2020
    * Q1 EBITDA LOSS SEK 0.8 MILLION VERSUS PROFIT  SEK 2.7
MILLION
YEAR AGO
    * Q1 NET SALES SEK 11.5 MILLION VERSUS SEK 11.9 MILLION YEAR
AGO
    * ON CORONAVIRUS: COVID-19 PANDEMIC HAS HAD SOME IMPACT ON
OUR
SALES DURING Q1
    * Q1 NET SALES SEK AT END OF MARCH WE SAW A SLOWDOWN IN
CUSTOMER
ACTIVITY IN EUROPE AND NORTH AMERICA AS A RESULT OF RESTRICTIONS
INTRODUCED IN MANY COUNTRIES TO REDUCE SPREAD OF DISEASE MILLION
VERSUS SEK 11.9 MILLION YEAR AGO
    * Q1 NET SALES SEK WE ESTIMATE THAT POSTPONED DELIVERIES AND
GEOGRAPHIC IMPACT, ESPECIALLY IN ASIA, LOWERED REVENUE BY
APPROXIMATELY 10-15 PERCENT FOR QUARTER MILLION VERSUS SEK 11.9
MILLION YEAR AGO
    * Q1 NET SALES SEK WE HAVE SEEN A GRADUAL INCREASE IN
CUSTOMER
ACTIVITY IN ASIA IN EARLY APRIL MILLION VERSUS SEK 11.9 MILLION
YEAR AGO
    * EXTENSIVE CLOSURE OF LABORATORIES, CANCELED CONFERENCES
AND
SALES ACTIVITIES WILL LIKELY HAVE A DAMPENING EFFECT ON OUR
SALES IN SHORT TERM, WE ARE WELL PREPARED FOR SUCH A SCENARIO
    * TIME UNTIL WE RETURN TO A MORE NORMAL MARKET SITUATION
REMAINS
DIFFICULT TO ASSESS

Source text for Eikon:  ID:nWkrGkLWh 
Further company coverage:  GENOb.ST 

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