Brief: ITAB Sees 2020 Adjusted EBITDA At About SEK 575 Mln

Itab AB

29/01/2021 06:46

Jan 29 (Reuters) - ITAB Shop Concept AB  ITABb.ST :
    * ITAB EXPECTS HIGHER ADJUSTED EBITDA RESULT FOR THE
FINANCIAL
YEAR 2020 COMPARED TO THE PRELIMINARY GUIDANCE FROM 10 JULY 2020
    * ADJUSTED EBITDA FOR FY 2020 EXPECTED TO AMOUNT TO
APPROXIMATELY
SEK 575 MILLION
    * COMPANY HAS IDENTIFIED AN EXTRAORDINARY NEED TO WRITE DOWN
INVENTORY VALUE BY APPROXIMATELY SEK 75 MILLION
    * IMPROVEMENT IN RESULTS IS EXPLAINED BY INCREASED SALES
WITH
HIGHER PROFITABILITY AND EARLIER EFFECTS OF THE COMPANY'S
SAVINGS THAN PREVIOUSLY ANTICIPATED

Source text for Eikon:  ID:nWkr9Qk0dS 
Further company coverage:  ITABb.ST 

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