Brief: Moment Group Q2 Operating Loss Widens To SEK 41 Mln

Moment AB

24/07/2020 07:36

July 24 (Reuters) - Moment Group AB  MOMENT.ST :
    * INTERIM REPORT 1 JANUARY-30 JUNE, 2020
    * DURING QUARTER, NET SALES FROM OPERATIONS AMOUNTED TO SEK
14
MILLION (168 MILLION)
    * Q2 OPERATING LOSS FOR QUARTER TOTALLED SEK -41 MILLION
(-31),
WHICH IS SEK -10 MILLION GREATER THAN SAME PERIOD LAST YEAR
    * PERIOD APRIL THROUGH JUNE HAS BEEN DOMINATED BY NEGATIVE
IMPACT
OF CORONA PANDEMIC ON ENTERTAINMENT AND EXPERIENCE INDUSTRY
    * WE ASSESS BUSINESS TO HAVE SUFFICIENT LIQUIDITY TO MANAGE
ITS
REOPENING IN PARALLEL WITH REPAYMENT OF VARIOUS DEFERRALS,
COMMENCING FROM END OF Q3 OF 2020
    * UNDERLYING CONDITION FOR COMPANY'S SURVIVAL IS CONTINGENT
UPON
LIFTING OF RESTRICTIONS, THUS ALLOWING OPERATIONS TO RESTART
WITHIN OUR RESPECTIVE BUSINESS AREAS, OR THAT ADDITIONAL SUPPORT
PACKAGES ARE PRESENTED TO A SUFFICIENT EXTENT
    * AS CORONA-SPECIFIC ACTIVITIES ARE NOW IN FULL SWING, WE
HAVE
BEGUN WORK ESTABLISHING PLANS FOR RE-OPENING

Source text for Eikon:  ID:nWkr2BJ143 
Further company coverage:  MOMENT.ST 

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