April 30, 2020 / 5:07 PM / a month ago

BRIEF-Clasquin Q1 Consolidated Gross Profit Up At 17.6 Million Euros

April 30 (Reuters) - CLASQUIN SA:

* BUSINESS REPORT Q1

* Q1 CONSOLIDATED GROSS PROFIT EUR 17.6 MILLION VERSUS EUR 17.2 MILLION YEAR AGO

* Q1 DECLINE IN NUMBER OF SHIPMENTS (DOWN 9.7% AT CONSTANT PERIMETER)

* Q1 CONSOLIDATED SALES EUR 87.1 MILLION VERSUS EUR 77.0 MILLION YEAR AGO

* IMPACTS OF CRISIS DO NOT UNDERMINE GROUP’S FUNDAMENTALS AND GROWTH STRATEGY, WHICH REMAIN ROBUST OVER MEDIUM AND LONG TERM

* ON COVID-19: WE FORECAST A SHARP DECLINE IN BUSINESS IN Q2

* THE COVID-19 PANDEMIC AND THE RELATED LOCKDOWN MEASURES HAVE ADVERSELY IMPACTED PRODUCTION AND CONSUMPTION, LEADING TO UNPRECEDENTED SLUMP IN INTERNATIONAL TRADE

* GROUP WILL CONTINUE TO TAKE NECESSARY MEASURES TO ADJUST BREAKEVEN POINT AND SAFEGUARD CASH REQUIREMENTS

* CHINA-EUROPE RAIL SERVICE IS BACK ON TRACK

* AIR FREIGHT HAS BEEN MOST IMPACTED SECTOR: AIR FREIGHT TONNAGE DOWN 2.8% AND NUMBER OF SHIPMENTS DOWN 9.1%

* ON COVID-19: AT PRESENT TIME, IMPOSSIBLE TO PRECISELY EVALUATE SCALE OR DURATION OF CRISIS

* CONFIRMED EUR 30M SHORT-TERM REVOLVING CREDIT FACILITY Source text for Eikon: Further company coverage: (Gdansk Newsroom)

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