Brief: Polygiene Anticipates Lower Sales In Period 1 January To 31 March 2023

Polygiene AB

06/04/2023 15:03

April 6 (Reuters) - Polygiene Group AB  POLYG.ST :
    * POLYGIENE GROUP AB ANTICIPATES LOWER SALES IN THE PERIOD 1
JANUARY TO 31 MARCH 2023
    * REVENUES FOR Q1 ARE EXPECTED TO BE APPROXIMATELY 35% LOWER
THAN
CORRESPONDING PERIOD LAST YEAR
    * MAIN REASON IS LOWER ORDER INTAKE DUE TO CONTINUED HIGH
INVENTORY LEVELS THROUGHOUT SUPPLY CHAIN
    * PROBLEM WITH LOWER DEMAND AND HIGH INVENTORY LEVELS IN
SUPPLY
CHAIN HAVE CONTINUED IN Q1
    * SALES AFTER CHINESE NEW YEAR HAVE NOT DEVELOPED ACCORDING
TO
EXPECTATIONS AND AFFECTED FRESHNESS AND PRODUCT PROTECTION
    * EBIT WILL BE LOWER THAN LAST YEAR,
    * WILL PROBABLY REPORT NEGATIVE EBIT IN Q1
    * STILL HAS A STABLE FINANCIAL POSITION WITH A STRONG CASH
POSITION AND A DEBT-FREE BALANCE SHEET
    * MARKET IS EXPECTED TO RECOVER IN COMING QUARTERS, BUT IT
IS HARD
TO PREDICT WHEN THIS WILL IMPACT SALES

Source text for Eikon:  ID:nWkrc45kvk 
Further company coverage:  POLYG.ST 

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