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BRIEF-Renonorden makes provisions of NOK 166.5 mln for Norway and Denmark future contracts losses
May 1, 2017 / 9:01 PM / 6 months ago

BRIEF-Renonorden makes provisions of NOK 166.5 mln for Norway and Denmark future contracts losses

May 1 (Reuters) - Renonorden Asa

* Additional provisions for loss making contracts in q1 2017

* Made provisions in amount of nok 166.5 million for losses on future contracts in norway and denmark

* Based on new evaluation will make additional provisions of about NOK 240 million in interim financial statements for q1 2017

* Expects it likely to be in breach of its NIBD/EBITDA-covenant of 5.0x by end of q2 2017

* Additional provisions will not have any significant effect on company’s q1 2017 EBITDA Source text for Eikon: Further company coverage:

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