June 25, 2020 / 4:00 PM / 12 days ago

BRIEF-Groupe SEB Sees Q2 Revenue Loss Of Around 200 Million Euros Due to COVID-19

June 25 (Reuters) - SEB SA:

* GROUPE SEB: UPDATE OF THE IMPACTS OF COVID-19 ON THE GROUP

* GROUP ESTIMATES A REVENUE LOSS OF AROUND EUR 200 MILLION FOR Q2, RATHER THAN EUR 450 TO EUR 500 MILLION ANNOUNCED IN APRIL

* GROUP IS CONFIRMING THAT ITS REVENUE AND OPERATING RESULT FROM ACTIVITY WILL FALL SIGNIFICANTLY IN 2020 COMPARED TO 2019

* REAFFIRMS ITS CONFIDENCE IN ITS SOLID AND WELL-BALANCED STRATEGIC MODEL, A STRONG ASSET TO SMOOTHLY NAVIGATE THIS CRISIS

* GROUP IS EXPECTING A GRADUAL FIRMING UP OF BUSINESS ACTIVITY IN THE SECOND HALF

* IT REMAINS IMPOSSIBLE AT THIS STAGE TO PRECISELY QUANTIFY THE IMPACTS OF COVID-19 ON THE YEAR AS A WHOLE Source text for Eikon: Further company coverage: (Gdansk Newsroom)

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