May 7, 2020 / 6:37 AM / 23 days ago

BRIEF-Anadolu Efes Q1 Net Loss Shrinks To 83.5 Mln Lira YoY

May 7 (Reuters) - ANADOLU EFES BIRACILIK VE MALT SANAYII :

* SAID ON WEDNESDAY Q1 NET LOSS OF 83.5 MILLION LIRA VERSUS NET LOSS 176.8 MILLION LIRA YEAR AGO

* Q1 REVENUE OF 4.51 BILLION LIRA VERSUS 3.97 BILLION LIRA YEAR AGO

* SAYS COVID-19 HAS BEEN IMPACTING RESULTS ESPECIALLY SINCE MID-MARCH AND ITS EFFECT IS EXPECTED TO CONTINUE IN SECOND QUARTER AS WELL

* SAYS DUE TO UNCERTAINTIES RELATED WITH DURATION OF PANDEMIC, IT WOULD NOT BE REALISTIC TO MAINTAIN 2020 EXPECTATIONS SHARED PREVIOUSLY

* EXPECTS VOLUMES TO DECLINE BY LOW-DOUBLE DIGITS ON ANNUAL BASIS FOR BEER GROUP

* EXPECTS YEAR-ON-YEAR INCREASE IN COST OF GOODS SOLD AND OPERATIONAL EXPENSES TO BE VERY MODERATE

* AS A RESULT OF SAVINGS AND FREEZES IMPLEMENTED, CAPITAL EXPENDITURES WILL BE LOWER THAN LAST YEAR ON ABSOLUTE BASIS

Source text for Eikon:

Further company coverage: (Gdansk Newsroom)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below