April 24, 2020 / 1:02 PM / a month ago

BRIEF-Kvaerner First Quarter Results 2020 Will Be Negatively Influenced By Global Pandemic

April 24 (Reuters) - Kvaerner ASA:

* REG-FIRST QUARTER RESULTS 2020 WILL BE NEGATIVELY INFLUENCED BY GLOBAL PANDEMIC

* KVAERNER ASA - IT IS ESTIMATED THAT THESE ELEMENTS COMBINED WILL INFLUENCE EBITDA FOR FIELD DEVELOPMENT SEGMENT WITH AROUND NEGATIVE NOK 190 MILLION FOR Q1 2020

* KVAERNER ASA - IT IS ESTIMATED THAT THESE ELEMENTS COMBINED WILL INFLUENCE EBITDA FOR FIELD DEVELOPMENT SEGMENT WITH AROUND NEGATIVE NOK 190 MILLION FOR Q1 2020

* KVAERNER ASA - Q1 RESULTS WILL BE NEGATIVELY IMPACTED BY EXTRA COSTS RELATED TO PRECAUTIONS AGAINST VIRUS RISK, AND PROVISIONS FOR FURTHER ASSOCIATED COSTS.

* KVAERNER ASA - EFFECT IS THAT OUT OF Q1 REVENUES OF ABOUT NOK 2 190 MILLION, IT IS ESTIMATED THAT EBITDA RESULT FOR FIELD DEVELOPMENT SEGMENT WILL BE AROUND NEGATIVE NOK 130 MILLION.

* KVAERNER ASA - Q1 RESULTS WILL ALSO BE NEGATIVELY IMPACTED BY EXTRA COSTS RELATED TO PRECAUTIONS AGAINST VIRUS RISK, AND PROVISIONS FOR FURTHER ASSOCIATED COSTS

* KVAERNER ASA - ON CORONAVIRUS: UNTIL UNCERTAINTY RELATED TO AVAILABILITY AND EXTRA COSTS FOR PROJECTS RESOURCES IS CONCLUDED, MARGIN RECOGNITION IS TEMPORARILY REDUCED FOR SOME PROJECTS Source text for Eikon: Further company coverage: (Gdansk Newsroom)

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