May 14, 2020 / 4:05 PM / 16 days ago

BRIEF-Corticeira Amorim Q1 Net Profit Up At 19.9 Mln Euros YoY

May 14 (Reuters) - Corticeira Amorim SGPS SA

* Q1 NET PROFIT 19.9 MILLION EUROS VERSUS 18.6 MILLION EUROS YEAR AGO

* Q1 SALES 203.7 MILLION EUROS VERSUS 202.3 MILLION EUROS YEAR AGO

* Q1 EBITDA 35.8 MILLION EUROS VERSUS 34.8 MILLION EUROS YEAR AGO

* SAYS Q2 2020 SHOULD BE THE MOST IMPACTED QUARTER

* THERE WAS NO MATERIAL IMPACT ON TURNOVER UNTIL END-MARCH, REDUCTIONS ARE EXPECTED IN APRIL, MAY AND JUNE

* SAYS EXPECTS RECOVERY FROM Q3 ONWARDS, DEPENDING ON HOW PANDEMIC SPREADS

* IN TALKS OVER LIQUIDITY OF NEW CREDIT LINES AND EXTENSION OF SHORT-TERM CREDIT LINES TO 12 MONTHS

* CASH & EQUIVALENTS TOTALED 74 MILLION EUROS AS OF MARCH 31 Source text: bit.ly/35XWhKY Further company coverage: (Gdansk Newsroom)

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