July 9, 2020 / 5:16 AM / a month ago

BRIEF-Recticel Expects Q2 Adjusted Ebitda To Be Slightly Positive

July 9 (Reuters) - Recticel NV:

* UPDATE ON COVID-19 IMPACT: BUSINESS RECOVERING AFTER APRIL LOW POINT

* DECREASE OF OUR 2Q2020 COMBINED SALES BY ABOUT 33% COMPARED TO LAST YEAR

* 2Q2020 ADJUSTED EBITDA EXPECTED TO BE SLIGHTLY POSITIVE

* SINCE EARLY JUNE ALL OUR PLANTS ARE OPERATING AGAIN, ADAPTING ACTIVITY LEVELS TO MARKET DEMAND

* AFTER A LOW POINT OF -53% IN APRIL 2020 VERSUS APRIL 2019, THE SALES SHORTFALL VERSUS 2019 HAS PROGRESSIVELY REDUCED TO -36% IN MAY AND -11% IN JUNE

* IN Q2 2020, TOPLINE OF OUR RETAINED BUSINESSES IS EXPECTED TO BE BACK AT THE LEVEL OF THE SECOND HALF OF 2019 - CEO

* GROUP IS CURRENTLY DEBT-FREE

* TOTAL LIQUIDITY, INCLUDING UNDRAWN AVAILABLE CREDIT FACILITIES AND THE CURRENT NET CASH POSITION, EXCEEDS EUR 300 MILLION

* DEBT-FREE EXCEPT FOR ABOUT EUR 51 MILLION OF LEASE DEBT RECOGNISED UNDER IFRS 16 Source text: bit.ly/325QSBs Further company coverage: (Gdansk Newsroom)

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