Brief: Leoni Q1 Consolidated Net Loss At EUR 67 Mln

Leoni AG

13/05/2020 06:07

May 13 (Reuters) - LEONI AG  LEOGn.DE :
    * MAINTAINED ITS FREE CASH FLOW UPTREND IN THE FIRST QUARTER
OF
2020
    * Q1 EBIT-LEVEL RESULT BEFORE EXCEPTIONAL ITEMS AS WELL AS
BEFORE
VALUE 21 COSTS IMPROVED SLIGHTLY TO A LOSS OF EUR 17 MILLION
DESPITE THE SIGNIFICANT SALES DECREAS
    * Q1 ASSET IMPAIRMENT AMOUNTING TO EUR 19 MILLION DUE TO
ECONOMIC
CONDITIONS CHANGED BY THE COVID-19 PANDEMIC
    * Q1 CONSOLIDATED SALES DOWN AT EUR 1.13 BILLION
    * Q1 CONSOLIDATED NET LOSS OF EUR 67 MILLION VERSUS LOSS OF
EUR
132 MILLION YEAR AGO
    * READY FOR SAFE AND GRADUAL RESTART OF PRODUCTION
    * AS ADDITIONAL RESPONSE TO PANDEMIC, WE AGREED NEW EUR 330
MILLION OPERATING LOAN WITH CORE BANKS, 90% OF WHICH IS BACKED
BY A LARGE-SCALE GERMAN FEDERAL AND STATE GOVERNMENT GUARANTEE

Source text: https://bit.ly/2YXMQcZ
Further company coverage:  LEOGn.DE 

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