Brief: Medicover Q1 EBITDA Up At EUR 29.0 Mln

Medicover AB

15/04/2020 07:08

April 15 (Reuters) - Medicover AB  MCOVb.ST :
    * TRADING UPDATE 1ST QUARTER 2020
    * Q1 REVENUE REACHED EUR 238.8M (EUR 199.7M)
    * Q1 OPERATING PROFIT WAS EUR 6.4M (EUR 11.3M)
    * Q1 EBITDA WAS EUR 29.0M (EUR 27.5M)
    * DURING SECOND HALF OF MARCH, MEDICOVER EXPERIENCED A
SIGNIFICANT
DROP IN ALL ELECTIVE SERVICES INCLUDING ELECTIVE DIAGNOSTIC
ACTIVITIES DUE TO LOCK-DOWNS AND SERVICE RESTRICTIONS IMPOSED
    * REDUCTION IN REVENUE IN SECOND HALF OF MARCH FROM A NORMAL
TRADING OUTLOOK IS ESTIMATED AT A SHORTFALL OF APPROXIMATELY EUR
13M TO EUR 14M
    * LOCK-DOWNS AND SERVICE RESTRICTIONS ARE NOW ASSUMED TO
CARRY ON
WELL INTO MAY, WITH MATERIAL CONTRACTION ON Q2 REVENUE AND
SIGNIFICANT NEGATIVE IMPACTS ON Q2 RESULTS EXPECTED
    * MEDICOVER REITERATES ITS EXPECTATION FROM 25TH MARCH
TRADING
UPDATE

Source text for Eikon:  ID:nWkrbN7667 
Further company coverage:  MCOVb.ST 

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