Brief: SBS Says War In Ukraine To Affect SBS Automotive's Sale Price

SCANDINAVIAN BRAKE SYSTEMS Under frivillig likvidation A/S

15/03/2022 06:28

March 15 (Reuters) - Scandinavian Brake Systems A/S
 SBS.CO :
    * REPORTED ON MONDAY IMPACT OF THE UKRAINE WAR ON THE SALE
PRICE
OF SBS AUTOMOTIVE TO BORG AUTOMOTIVE
    * THE RUSSIAN MARKET ACCOUNTED FOR APPROX. 20% OF SBS
AUTOMOTIVE'S
TURNOVER
    * CHANGES IN SALES TO CUSTOMERS IN THIS MARKET ENTAIL A RISK
OF A
SIGNIFICANT NEGATIVE IMPACT ON SBS AUTOMOTIVE'S EARNINGS AND
CASH FLOWS IN 2022, WHICH IN TURN WILL AFFECT THE SALE PRICE AND
SHAREHOLDERS' NET PROCEEDS AFTER THE SALES IN A SIGNIFICANT
NEGATIVE DIRECTION
    * THE SIGNIFICANT UNCERTAINTIES SURROUNDING THE WAR IN
UKRAINE
MEAN THAT IT IS CURRENTLY NOT POSSIBLE TO PROVIDE NEW ESTIMATES
OF SALE PRICE AND NET DISTRIBUTION

    
    
 Source text for Eikon:  urn:newsml:reuters.com:*:nGNEcbnjmg
 Further company coverage:  SBS.CO  

 (Gdansk Newsroom)
 ((gdansk.newsroom@thomsonreuters.com; +48 58 769 66 00;))