Brief: New Wave Group Q1 Operating Result Swings To Loss Of SEK 24.1 Mln

New Wave AB

22/04/2020 06:05

April 22 (Reuters) - New Wave Group AB  NEWAb.ST :
    * INTERIM REPORT FOR THE FIRST QUARTER 2020 NEW WAVE GROUP
AB
    * Q1 NET SALES AMOUNTED TO SEK 1,440.9 MILLION, WHICH WAS 4
% (7 %
IN LOCAL CURRENCIES) LOWER THAN LAST YEAR (SEK 1,504.9 MILLION)
    * Q1 OPERATING RESULT AMOUNTED TO SEK -24.1 (46.0) MILLION
    * WORST HIT WAS ITALY, WHERE OUR COMPANY IS LOCATED IN
CODOGNO AND
ALSO WHERE CORONA OUTBREAK STARTED IN ITALY
    * SEVERAL OF OUR COMPANIES WERE HIT VERY HARD BY COVID-19,
NOT
ONLY BY REDUCED DEMAND, BUT ALSO BY HAVING TO CLOSE SOME
WAREHOUSES
    * IT IS EXTREMELY DIFFICULT TO SAY ANYTHING ABOUT FUTURE -
AT
LEAST IN SHORTER TERM

Source text for Eikon:  ID:nWkr74Zlmv 
Further company coverage:  NEWAb.ST 

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