Brief: Navigator Q1 Net Profit Down 37.9% At 30.6 Mln Euros YoY

Navigator SA

21/05/2020 07:28

May 21 (Reuters) - Navigator Company SA  NVGR.LS :
    * SAID ON WEDNESDAY Q1 REVENUE 405.8 MILLION EUROS VERSUS
421.8
MILLION EUROS YEAR AGO
    * Q1 NET PROFIT 30.6 MILLION EUROS VERSUS 49.3 MILLION EUROS
YEAR
AGO
    * Q1 EBITDA 88.4 MILLION EUROS VERSUS 104.9 MILLION EUROS
YEAR AGO
    * INCREASE IN IMMEDIATE LIQUIDITY TO 256 MILLION EUROS AT
END-MARCH
    * SAID IT IS DIFFICULT TO OFFER RELIABLE QUANTIFICATION OF
FINANCIAL IMPACTS OF COVID-19 IN FY 2020
    * SIGNIFICANT DROPS IN DEMAND FOR UWF PAPER ARE EXPECTED IN
Q2,
GRADUAL RECOVERY ANTICIPATED UNTIL END OF THE YEAR
    * COMPANY TO REDUCE ITS 2020 CAPEX PLANS BY 56%
    * COMPANY DECIDED TO EXTEND PREVIOUSLY-ANNOUNCED CUT IN
PRODUCTION
UNTIL END OF JUNE
    * TO APPLY SIMPLIFIED PARTIAL FURLOUGH MEASURE, WHICH WILL
AFFECT
AROUND 1201 WORKERS FROM JUNE 1, BUT TO MAINTAIN FULL
REMUNERATION OF THOSE EMPLOYEES
    * BOARD DECIDED TO WITHDRAW PROPOSAL REGARDING DIVIDEND
DISTRIBUTION

    
 Source text: https://bit.ly/36mpnUr
    
 Further company coverage:  NVGR.LS 

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