March 26, 2020 / 1:06 PM / 6 days ago

BRIEF-Hostelworld Grp Sees Q1 EBITDA Reduction To Be About 5 Mln Euros

March 26 (Reuters) - Hostelworld Group PLC:

* TRADING STATEMENT & UPDATE ON COVID-19 IMPACT

* NOW EXPECT OVERALL EBITDA REDUCTION IN Q1 2020 TO BE C. EUR 5.0 MILLION.

* AS AT 24 MARCH 2020, GROUP’S NET CASH POSITION REMAINS STRONG

* WORKING TO MINIMISE ANY NEGATIVE CASHFLOW IMPACTS TO BUSINESS, BY OFFERING CREDITS IN LIEU OF CASH REFUNDS.

* TAKEN DECISION TO CANCEL PROPOSED FINAL DIVIDEND OF 2.1C PER SHARE

* IT IS TOO EARLY TO PREDICT OR QUANTIFY IMPACT OF COVID-19 ON GROUP’S RESULTS FOR FINANCIAL YEAR ENDING 31 DECEMBER 2020 Source text for Eikon: Further company coverage:

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