July 7, 2020 / 6:50 AM / a month ago

BRIEF-DDM Provides Business Update

July 7 (Reuters) - DDM Holding AG:

* DDM PROVIDES BUSINESS UPDATE IN CONNECTION TO THE WRITTEN PROCEDURE FOR ITS EUR 50 MILLION SENIOR SECURED BONDS

* WE EXPECT COMING QUARTERS TO CONTINUE TO BE CHALLENGING WITH INCREASED VOLATILITY

* NET COLLECTIONS DECREASED SIGNIFICANTLY AT BEGINNING OF Q2 BUT IMPROVED GRADUALLY THROUGHOUT QUARTER TO END AT ABOUT EUR 13 MILLION

* LOSS BEFORE INCOME TAX WAS ABOUT EUR 1 MILLION FOLLOWING ADJUSTMENTS TO PORTFOLIO VALUE.

* ENDED QUARTER WITH ABOUT EUR 26 MILLION OF CASH AVAILABLE. Source text for Eikon: Further company coverage: (Gdansk Newsroom)

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