April 29, 2020 / 6:09 AM / a month ago

BRIEF-Genovis Q1 EBITDA Swings To Loss SEK 0.8 Million

April 29 (Reuters) - Genovis AB:

* INTERIM REPORT JANUARY - MARCH 2020

* Q1 EBITDA LOSS SEK 0.8 MILLION VERSUS PROFIT SEK 2.7 MILLION YEAR AGO

* Q1 NET SALES SEK 11.5 MILLION VERSUS SEK 11.9 MILLION YEAR AGO

* ON CORONAVIRUS: COVID-19 PANDEMIC HAS HAD SOME IMPACT ON OUR SALES DURING Q1

* Q1 NET SALES SEK AT END OF MARCH WE SAW A SLOWDOWN IN CUSTOMER ACTIVITY IN EUROPE AND NORTH AMERICA AS A RESULT OF RESTRICTIONS INTRODUCED IN MANY COUNTRIES TO REDUCE SPREAD OF DISEASE MILLION VERSUS SEK 11.9 MILLION YEAR AGO

* Q1 NET SALES SEK WE ESTIMATE THAT POSTPONED DELIVERIES AND GEOGRAPHIC IMPACT, ESPECIALLY IN ASIA, LOWERED REVENUE BY APPROXIMATELY 10-15 PERCENT FOR QUARTER MILLION VERSUS SEK 11.9 MILLION YEAR AGO

* Q1 NET SALES SEK WE HAVE SEEN A GRADUAL INCREASE IN CUSTOMER ACTIVITY IN ASIA IN EARLY APRIL MILLION VERSUS SEK 11.9 MILLION YEAR AGO

* EXTENSIVE CLOSURE OF LABORATORIES, CANCELED CONFERENCES AND SALES ACTIVITIES WILL LIKELY HAVE A DAMPENING EFFECT ON OUR SALES IN SHORT TERM, WE ARE WELL PREPARED FOR SUCH A SCENARIO

* TIME UNTIL WE RETURN TO A MORE NORMAL MARKET SITUATION REMAINS DIFFICULT TO ASSESS Source text for Eikon: Further company coverage: (Gdansk Newsroom)

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