May 6, 2020 / 5:54 AM / a month ago

BRIEF-Alfen Q1 Adjusted EBITDA Rises To 4.6 Million Euros

May 6 (Reuters) - ALFEN NV:

* Q1 2020 REVENUES OF €44.1M, A GROWTH OF 58% VERSUS Q1 2019 (€28.0M)

* COVID-19 UPDATE: UNTIL NOW ORDER INTAKE IS REASONABLY STRONG WITH NO CANCELLED ORDERS, SUPPLY CHAIN IS STILL FUNCTIONING AND PRODUCTION IS UP AND RUNNING AT THIS STAGE

* NET DEBT/ADJUSTED EBITDA RATIO OF 1.4, COMPARED WITH 1.3 AT YEAR-END 2019

* CONTINUES TO ANTICIPATE LONG-TERM POSITIVE MARKET DEVELOPMENTS IN ALL ITS BUSINESS LINES AND IS WELL POSITIONED FOR FURTHER GROWTH BASED ON ITS LEADING MARKET POSITION

* ADJUSTED EBITDA OF EUR 4.6M (10.4% OF REVENUES), A GROWTH OF 169% FROM Q1 2019 (EUR 1.7M, 6.1% OF REVENUES)

* CANNOT GIVE ANY FURTHER GUIDANCE AT MOMENT DUE TO CURRENT STAGE OF COVID-19 CRISIS Source text for Eikon: Further company coverage: (Gdansk Newsroom)

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