March 23, 2020 / 7:44 AM / 6 days ago

BRIEF-Schneider Electric Suspends 2020 Guidance Due To Coronavirus

March 23 (Reuters) - SCHNEIDER ELECTRIC SE:

* SCHNEIDER ELECTRIC: UPDATE ON COVID -19

* THE GROUP IS PRESENTLY WORKING ON ANALYZING THE POTENTIAL SCENARIOS EMANATING FROM THIS CRISIS AND THE RESULTANT ACTIONS AND IMPACT ON SCHNEIDER ELECTRIC

* 2020 GUIDANCE ISSUED ON FEBRUARY 20TH, 2020 IS NO LONGER RELEVANT AND THEREFORE SUSPENDED

* AT THIS STAGE AND GIVEN THE EVOLVING LANDSCAPE, IT IS TOO EARLY TO DETERMINE THE FULL IMPACTS ON GROUP RESULTS, INCLUDING POSSIBLE BENEFITS FROM GOVERNMENT ACTIONS

* CONTINUES TO FOCUS ON CASH GENERATION TO FURTHER STRENGTHEN ITS STRONG FINANCIAL LIQUIDITY AND BALANCE SHEET

* IMPLEMENTS STRICT COST MANAGEMENT MEASURES AND ACCELERATION OF PREVIOUSLY ANNOUNCED EFFICIENCY PLANS WITH FURTHER COST ACTIONS UNDER REVIEW Source text: bit.ly/3dpS0mL Further company coverage: (Gdansk Newsroom)

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