June 12, 2020 / 10:13 AM / 25 days ago

BRIEF-Handicare Updates On Financial Impact Of Lift Up Program

June 12 (Reuters) - Handicare Group AB:

* FINANCIAL IMPACT OF LIFT UP PROGRAM: PROGRAM’S COST REDUCTION ACTIVITIES TARGET MEUR 8 OF POSITIVE ADJUSTED EBITA IMPACT YEAR ON YEAR

* PROGRAM IS EXPECTED TO REACH ITS FULL RUN-RATE EFFECT BY END OF 2020 AND TO SHOW AN ADJUSTED EBITA IMPACT OF MEUR 8 IN 2021

* NON-RECURRING COSTS FOR PROGRAM ARE ESTIMATED TO MEUR 8, OF WHICH MEUR 6.5 HAS A CASH FLOW IMPACT, WITH FULL AMOUNT BEING RESERVED IN Q2 2020

* IMPACT OF LIFT UP PROGRAM: EXPECTS A POSITIVE IMPACT ON GROUP ADJUSTED EBITA OF MEUR 3-4 IN 2020

* IN APRIL AND MAY, GROUP REVENUES DECLINED APPROXIMATELY 35 PERCENT COMPARED TO SAME TIME PERIOD IN 2019

* COVID-19 HAS AFFECTED HANDICARE ACROSS ALL SEGMENTS IN APRIL AND MAY WITH SHORT-TERM SALES BEING NEGATIVELY IMPACTED Source text for Eikon: Further company coverage: (Gdansk Newsroom)

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