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BRIEF-Addtech Updates On The Corona Pandemic

April 7 (Reuters) - Addtech AB:

* UPDATE ON THE CORONA PANDEMIC

* HAS A STRONG BALANCE SHEET AND GOOD FINANCIAL STABILITY.

* DEMAND IN Q4 HAS REMAINED GOOD IN MANY MARKETS AND GEOGRAPHIES

* IMPACT ON ADDTECH GROUP COMPANIES DUE TO COVID-19 PANDEMIC HAS SO FAR BEEN LIMITED

* IT IS CURRENTLY NOT POSSIBLE TO SAY TO WHICH EXTENT ADDTECH COMPANIES WILL BE AFFECTED, BUT WE ARE PREPARING FOR ASSUMED SLOWDOWN IN SALES IN COMING PERIOD

* PANDEMIC AFFECTS MARKETS ACROSS WHOLE WORLD AND WILL ALSO AFFECT ADDTECH’S COMING FINANCIAL YEAR

* ALL ADDTECH GROUP COMPANIES HAVE PREPARED ACTION PLANS AND COST-CUTTING PROGRAMS READY TO BE EXECUTED TO PROTECT EARNINGS, LIQUIDITY AND CASH FLOW

* CEO AND GROUP MANAGEMENT HAVE ALSO DECIDED TO TEMPORARILY WAIVE THEIR FIXED SALARY BY 15% AS OF APRIL 1, 2020

* CEO AND GROUP MANAGEMENT HAVE ALSO DECIDED TO TEMPORARILY WAIVE THEIR FIXED SALARY BY 15% AS OF APRIL 1, 2020 AND ALL BUSINESS UNIT MANAGERS HAVE VOLUNTARILY COMMITTED A CORRESPONDING SALARY WAIVER OF 10% Source text for Eikon: Further company coverage: (Gdansk Newsroom)

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