May 7, 2020 / 6:08 AM / a month ago

BRIEF-Talgo Q1 Net Profit Down 30.5% YoY

May 7 (Reuters) - Talgo SA:

* SAID ON WEDNESDAY Q1 NET PROFIT 4.9 MILLION EUROS VERSUS 7.1 MILLION EUROS YEAR AGO

* Q1 ADJUSTED PROFIT 5.3 MILLION EUROS VERSUS 7.5 MILLION EUROS YEAR AGO

* Q1 TURNOVER 112.8 MILLION EUROS VERSUS 87.1 MILLION EUROS YEAR AGO

* Q1 EBITDA 13.9 MILLION EUROS VERSUS 14.3 MILLION EUROS YEAR AGO

* Q1 ADJUSTED EBITDA MARGIN AT 13.1% VERSUS 17.9% YEAR AGO

* BACKLOG AT 3.40 BLN EUROS AT END-MARCH VERSUS 3.08 BLN EUROS YEAR AGO

* ON CORONAVIRUS IMPACT: SAYS SAW SLOWDOWN IN MANUFACTURING ACTIVITY IN Q1 DUE TO SUPPLY CHAIN DISRUPTIONS AND LOWER PRODUCTIVITY RATIO

* SAYS BOTH OF ITS FACTORIES REMAINED LOCKDOWN FROM MARCH 30 TO APRIL 13 IN ACCORDANCE WITH GOVERNMENT MEASURES

* SAYS ITS MAINTENANCE ACTIVITY HAS BEEN REDUCED SINCE MID-MARCH, ADAPTING TO CUSTOMERS REQUIREMENTS BASED ON THEIR OPERATIONS ACTIVITY

* SAYS INTRODUCED TEMPORARY SUSPENSION OF EMPLOYMENT (ERTE) FOR 313 MAINTENANCE EMPLOYEES IN SPAIN, TO BE EXTENDED UNTIL ACTIVITY RESUME TO NORMAL LEVEL

* SAYS CURRENT COVID-19 IMPACT STATUS (MAY 2020): SPAIN 77% ACTIVITY SLOWDOWN; SAUDI ARABIA, KAZAKHSTAN, UZBEKISTAN AND U.S. 100% ACTIVITY REDUCTION, RUSSIA PARTIALLY REDUCED, GERMANY NORMAL ACTIVITY

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Further company coverage: (Gdansk Newsroom)

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