Brief: NoHo Partners Q3 Turnover Down At EUR 56.0 Mln

NoHo Partners Oyj

10/11/2020 06:29

Nov 10 (Reuters) - NoHo Partners Oyj  NOHOP.HE :
    * REG-NOHO PARTNERS INTERIM REPORT 1 JANUARY–30 SEPTEMBER
2020:
QUICK RECOVERY OF DEMAND AND PROFITABILITY MEASURES GENERATED
OPERATING CASH FLOW OF MEUR 5.5 – RESTRICTIONS WEAKEN THE
OUTLOOK FOR THE REMAINDER OF THE YEAR
    * Q3 TURNOVER EUR 56.0 MILLION VERSUS EUR 76.7 MILLION YEAR
AGO
    * JULY-SEPT EBIT FELL BY 71.0% TO MEUR 2.9 (MEUR 10.1)
    * LOSS OF TURNOVER CAUSED BY COVID-19 PANDEMIC IN
JANUARY-SEPTEMBER IS ESTIMATED TO BE NEARLY MEUR 100
    * ESTIMATES TURNOVER IN NOVEMBER WILL BE LESS THAN 50 % OF
PREVIOUS YEAR'S LEVEL AND OPERATING CASH FLOW WILL BE NEGATIVE.
    * RECOGNISED ABOUT MEUR 10.1 IN FINANCIAL SUPPORT FROM
FINNISH,
DANISH AND NORWEGIAN GOVERNMENTS FOR PERIOD 1 JANUARY-30
SEPTEMBER
    * IN MARCH CANCELLED ITS PREVIOUSLY ISSUED PROFIT GUIDANCE
FOR
2020 DUE TO IMPACT OF COVID-19 PANDEMIC
    * WILL NOT SPECIFY ITS TURNOVER AND PROFITABILITY FORECAST
FOR
2021 DUE TO UNCERTAIN MARKET SITUATION
    * OPERATING CASH FLOW OF MEUR 5.5 ACHIEVED DURING REVIEW
PERIOD
PROVIDES US WITH MORE OF A BUFFER FOR COVID-19 THAT WILL
CONTINUE THROUGH WINTER
    * ESTIMATE THAT DEMAND IN EARLY PART OF NEXT YEAR WILL STILL
BE
WEAKER, WHICH WILL BE PARTICULARLY REFLECTED IN CORPORATE SALES
    * WE ASSUME THAT MARKET WILL RECOVER AND GET CLOSER TO
NORMAL IN
SECOND HALF OF 2021.
    * FINANCIAL IMPACT OF PANDEMIC ON CO AND OUTLOOK CANNOT BE
FULLY
DETERMINED AT PRESENT
    * FINANCIAL TARGETS AND STRATEGIC PLAN WILL BE PUBLISHED IN
FIRST
HALF OF 2021 WHEN MARKET VISIBILITY IMPROVES.
    * WILL CONTINUE TO OPERATE IN A RESTRICTED BUSINESS
ENVIRONMENT
FOR REMAINDER OF 2020.

Source text for Eikon:  ID:nGNE5tX1ZN 
Further company coverage:  NOHOP.HE 

 (Gdansk Newsroom)
 ((gdansk.newsroom@thomsonreuters.com; +48 58 778 51 10;))