Brief: Matas Q4 EBIT Before IFRS 16 Down At DKK 10.4 Mln

Matas A/S

27/05/2020 07:24

May 27 (Reuters) - Matas A/S  MATAS.CO :
    * Q4 REVENUE BEFORE IFRS 16 DKK 817.0 MILLION VERSUS DKK
827.7
MILLION YEAR AGO
    * Q4 EBIT BEFORE IFRS 16 DKK 10.4 MILLION VERSUS DKK  49.4
MILLION
YEAR AGO
    * ESTIMATED IMPACT OF CORONA PANDEMIC ON 2019/20
PERFORMANCE: DKK
50 MILLION IN LOST SALES,
    * ESTIMATED IMPACT OF CORONA PANDEMIC ON 2019/20
PERFORMANCE: DKK
20 MILLION IN LOST EARNINGS,
    * ESTIMATED IMPACT OF CORONA PANDEMIC ON 2019/20
PERFORMANCE:  DKK
75 MILLION IN NEGATIVE EFFECT ON CASH FLOWS
    * BOARD OF DIRECTORS RECOMMENDS THAT DIVIDEND IS SUSPENDED
FOR
2019/20
    * NO GUIDANCE FOR FINANCIAL YEAR 2020/21.
    * LONG-TERM FINANCIAL GROWTH AND EARNINGS AMBITIONS
MAINTAINED
DESPITE INCREASED UNCERTAINTY ABOUT MARKET CONDITIONS.
    * ONLINE SALES UP BY ABOUT 300% IN WEEKS AFTER LOCKDOWN
    * CASH FLOW WAS ADVERSELY AFFECTED BY CORONA OUTBREAK
    * ESTIMATES RAMIFICATIONS OF PANDEMIC REDUCED REVENUE BY
ABOUT DKK
50 MILLION AND EARNINGS BY ABOUT DKK 20 MILLION IN LAST THREE
WEEKS OF MARCH 2020
    * ONLINE SALES GREW STRONGLY THROUGHOUT CRISIS, AND
CUSTOMERS
QUICKLY RETURNED TO PHYSICAL STORES AS DENMARK BEGAN TO REOPEN.
    * LONG-TERM FINANCIAL AMBITIONS FOR REVENUE AND EARNINGS
GOING
FORWARD TO 2022/23 ARE REITERATED

Source text for Eikon:  ID:nGNEZ4Dy4 
Further company coverage:  MATAS.CO 

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