Brief: Rapala H1 Operating Result Swings To Loss EUR 0.8 Million

Rapala VMC Oyj

16/07/2020 15:04

July 16 (Reuters) - Rapala VMC Corp  RAP1V.HE :
    * REG-RAPALA VMC CORPORATION’S HALF YEAR REPORT H1/2020: NET
SALES
AND PROFITABILITY DECREASED FOLLOWING THE COVID-19 PANDEMIC;
SUCCESSFUL MITIGATION RESULTED IN IMPROVED OPERATING CASH FLOW
AND SIGNIFICANT REDUCTION IN INVENTORIES AND NET DEBT
    * H1 NET SALES EUR 117.1 MILLION VERSUS EUR 141.2 MILLION
YEAR AGO
    * H1 OPERATING LOSS  EUR 0.8 MILLION VERSUS PROFIT EUR 11.4
MILLION YEAR AGO
    * SAYS FIRST HALF OF 2020 WAS TRULY EXCEPTIONAL AS COVID-19
PANDEMIC HAD A PROFOUND IMPACT ON THE GROUP
    * SAYS IT IS STILL IMPOSSIBLE TO ISSUE A FINANCIAL GUIDANCE
FOR
2020

Source text for Eikon:  ID:nGNEbGlfQB 
Further company coverage:  RAP1V.HE 

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