Brief: TKH Group Expects Negative Impact Of COVID-19 To Be Higher In Q2 Than In Q1

TKH

23/04/2020 06:56

April 23 (Reuters) - TKH GROUP NV  TWKNc.AS :
    * TKH UPDATE
    * TKH TODAY PUBLISHES AN UPDATE ON SITUATION THAT HAS ARISEN
AS A
RESULT OF COVID-19 OUTBREAK AND IMPACT THIS HAS ON TKH'S
TURNOVER AND RESULTS
    * OUTBREAK OF COVID-19 HAS A NEGATIVE IMPACT ON BOTH
TURNOVER AND
RESULT
    * LOCKDOWN IN CHINA, WHICH HAS NOW BEEN LARGELY BEEN LIFTED,
HAD A
LIMITED IMPACT
    * SITUATION RESULTING FROM LOCKDOWNS IN ITALY, FRANCE AND US
IN
PARTICULAR IS HAVING A GREATER IMPACT
    * ON CORONAVIRUS: DELIVERY OF SOME PROJECTS IS BEING
POSTPONED DUE
TO COVID-19
    * THIS EFFECT IS EXPECTED TO BE HIGHER IN Q2 THAN IN Q1 OF
2020
AND WILL DEPEND ON DURATION OF COVID-19 MEASURES
    * DUE TO COVID-19, TKH DOES NOT EXPECT TO MAKE ANY PROGRESS
THIS
YEAR WITH RESPECT TO PLANNED DIVESTMENTS IN CONTEXT OF ITS
'SIMPLIFY & ACCELERATE' PROGRAM, BEYOND DIVESTMENTS ALREADY MADE
    * SINCE START OF PROGRAM, WE HAVE ALREADY DIVESTED EUR 260
MILLION
TURNOVER

Source text for Eikon:  ID:nNDL3Tz53v 
Further company coverage:  TWKNc.AS 

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