Brief: Ter Beke Abandons Previously Announced Outlook 2020

Whats Cooking NV

17/04/2020 06:53

April 17 (Reuters) - TER BEKE NV  TERB.BR :
    * TER BEKE ABANDONS PREVIOUSLY ANNOUNCED OUTLOOK 2020
    * MEASURES TAKEN, OBLIGED US TO REDUCE PRODUCT RANGE AND TO
TEMPORARILY SHUT DOWN A NUMBER OF PRODUCTION LINES OR
TEMPORARILY REDUCE SPEED OF THE LINES
    * THE GROUP WAS CONFRONTED FOR A NUMBER OF WEEKS WITH A
SHARP
INCREASE IN ABSENTEEISM IN A NUMBER OF ITS PLANTS
    * IN ADDITION TO THE DIRECT COST TO THE GROUP, THIS HAS ALSO
HAD
AN IMPACT ON THE EFFICIENCY OF THE PRODUCTION ACTIVITIES
    * IN VIRTUALLY ALL MARKETS IN WHICH GROUP IS ACTIVE, IT HAS
ALSO
BEEN CONFRONTED SINCE MID-MARCH WITH IMPACT ON SALE OF ITS
PRODUCTS OF PANDEMIC AND IN PARTICULAR LOCK-DOWN MEASURES TAKEN
BY GOVERNMENTS
    * SALES IN THE FOODSERVICE AND OUT OF HOME CHANNELS, HAVE
DROPPED
DRASTICALLY DUE TO FORCED CLOSURE OF RESTAURANTS AND COMMERCIAL
KITCHENS, AND IT IS NOW UNCERTAIN WHEN CHANNEL WILL BE ABLE TO
BE RESUPPLIED
    * BOARD OF DIRECTORS WILL ADJUST ITS PROPOSAL TO PAY GROSS
DIVIDEND PER SHARE OF EUR 4.00 FOR FY 2019, BY TURNING DIVIDEND
INTO OPTIONAL DIVIDEND
    * GIVEN UNCERTAINTY REGARDING DURATION OF PANDEMIC AND
MEASURES
TAKEN, IT IS CURRENTLY NOT POSSIBLE TO PROVIDE ANY CONCRETE
GUIDANCE FOR 2020

Source text: https://bit.ly/2XEHmmR
Further company coverage:  TERB.BR 

 (Gdansk Newsroom)
 ((gdansk.newsroom@thomsonreuters.com; +48 58 7785110;))