Brief: Volati Says War In Ukraine And Strike In Finland Affecting Q1

Volati AB

23/03/2022 17:43

March 23 (Reuters) - Volati AB  VOLO.ST :
    * WAR IN UKRAINE AND STRIKE IN FINLAND AFFECTING Q1 BUT LESS
IMPACT ON FULL YEAR
    * WITH IMPAIRMENT LOSSES OF SEK 9 MILLION ON ASSETS IN
AFFECTED
COUNTRIES, NEGATIVE IMPACT ON QTRLY EARNINGS IS ESTIMATED AT
APPROX SEK 25 MILLION
    * TORNUM HAD PLANNED FOR DELIVERIES TO UKRAINE AND RUSSIA
TOTALLING SEK 40 MILLION IN Q1, WHICH WILL NOW BE POSTPONED
    * VOLATI - CO HAS TAKEN STEPS TO REDUCE IMPACT BY
REDIRECTING
PRODUCTS PRODUCED FOR UKRAINE AND RUSSIA TO CUSTOMERS IN OTHER
COUNTRIES AS FAR AS POSSIBLE
    * VOLATI - CO EXPECTS IMPACT TO BE LESS NEGATIVE FOR REST OF
YEAR
AFTER REDIRECTING PRODUCTS PRODUCED FOR UKRAINE, RUSSIA TO
CUSTOMERS IN OTHER COUNTRIES
    * CO REVIEWING ETTIKETTO GROUP'S COSTS, OF REDUCING
TEMPORARY
STAFF AND CONSULTANTS AND ADAPTING PERMANENT WORKFORCE
    * EXPECTS NEGATIVE EFFECT OF SEK 25 MILLION ON ETTIKETTO
GROUP'S
SALES FOR Q1, WITH A NEGATIVE EARNINGS EFFECT OF ABOUT SEK 10
MILLION FOR QUARTER

Source text for Eikon:  ID:nWkr2b50mq 
Further company coverage:  VOLO.ST 

 ((Reuters.Briefs@thomsonreuters.com;))