March 26, 2020 / 6:46 AM / 3 days ago

BRIEF-Suez Suspends 2020 Guidance Due To Coronavirus

March 26 (Reuters) - SUEZ SA:

* ANNOUNCES ON WEDNESDAY ALL ACTIONS THE GROUP HAS PUT IN PLACE TO ADJUST TO COVID-19 CONTEXT

* HAS IMPLEMENTED CONTINUITY PLANS IN SOLIDARITY WITH GOVERNMENTS, PUBLIC SECTOR AND PRIVATE SECTOR CLIENTS

* IN CHINA, GIVEN GRADUAL RETURN OF ACTIVITY, WE CONFIRM IMPACTS SPECIFIED ON FEBRUARY 26: EUR 30 TO 40 MLN ON 2020 EBIT MAINLY IN Q1 WITH PROGRESSIVE RETURN TO NORMAL EXPECTED IN Q2

* IN EUROPE AND AMERICAS, ALTHOUGH GOVERNMENT ACTIONS HAVE BEEN VERY RECENT, WE ARE STARTING TO SEE FIRST IMPACTS

* TOO EARLY TO QUANTIFY IMPACT ON FORMER 2020 GUIDANCE - TODAY SUSPENDED - AND TO ESTABLISH NEW ONES, IT IS CLEAR TO US THAT, LIKE ALL INDUSTRIES, WE ARE LIKELY TO BE SIGNIFICANTLY IMPACTED IN 2020 BY THE CONSEQUENCES OF POPULATION CONTAINMENT

* IN 2020, WE HAVE ALREADY ENGAGED ADDITIONAL MEASURES TO OPTIMISE ACTIVITY AND MITIGATE POTENTIAL IMPACTS ON REVENUE AND PROFITABILITY, AS WELL AS TO BOOST GROUP’S LIQUIDITY Source text: bit.ly/2vQshTN Further company coverage: (Gdansk Newsroom)

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