Brief: OmniCar To Have Profitable Operation From July 1, 2019

OmniCar Holding AB

26/07/2019 09:46

July 26 (Reuters) - OmniCar Holding AB  OMNIC.TE :
    * NEW STRATEGY, REVISED GUIDANCE AND COST CUTTING - FOLLOW
UP
    * SAYS WILL GOING FORWARD FOCUS ON LARGE SCALE OPERATIONS
SUCH AS
CAR IMPORTERS, LARGE DEALER GROUPS, WORKSHOP CHAINS AND
COMMERCIAL PARTNERING WITH FINANCIAL LEASING COMPANIES
    * IN AUGUST 2019 WILL ANNOUNCE NEW PLANS FOR A NEW
MARKETPLACE
THAT WILL ACCELERATE OUR FUTURE GROWTH.
    * OUR PRODUCT LINE, SAM, SUPPORTING SMALL DEALERS WILL BE
DISCONTINUED
    * AS A POSITIVE CONSEQUENCE WE WILL FROM 1ST OF JULY 2019
HAVE A
PROFITABLE OPERATION
    * OUR REVENUE FORECAST WILL REMAIN SAME AS ANNOUNCED ON 17TH
OF
JUNE 2019 (2,700.000 SEK FOR Q3 2019 GROWING WITH 15% IN Q4
2019)
    * ALL ACTIVITIES WILL BE CONTINUED IN OMNICAR HOLDING AB,
OMNICAR
AB IN SWEDEN AND OMNICAR IMPORTER APS IN DENMARK.
    * BOARD OF DIRECTORS HAVE DECIDED THAT OMNICAR HOLDING AB
WILL NOT
BACK UP OMNICAR A/S LIQUIDATIONS COST
    * LIQUIDATING COST IS ESTIMATED IN RANGE OF SEK 7-9 MIO.
    * AS A CONSEQUENCE, OMNICAR HOLDING AB HAS SUBMITTED A
BANKRUPTCY
DECLARATION FOR OMNICAR A/S IN DENMARK
    * SINCE OMNICAR A/S CANNOT MEET ITS OBLIGATIONS TO OMNICAR
HOLDING
AB - THIS WILL NOT IMPACT ANY COMMUNICATED REVENUE NUMBERS FOR
2H 2019

Source text for Eikon:  ID:nWkr3xxVpk 
Further company coverage:  OMNIC.TE 

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