April 24, 2020 / 4:55 AM / a month ago

BRIEF-Huber+Suhner Suspends 2020 Guidance

April 24 (Reuters) - HUBER+SUHNER AG:

* TO INTRODUCE FURTHER MEASURES IN CONNECTION WITH COVID-19

* THE GUIDANCE FOR THE 2020 FINANCIAL YEAR HAS BEEN SUSPENDED.

* AS A RESULT OF THE MEASURES TAKEN BY GOVERNMENTS IN MOST SALES REGIONS, CUSTOMER CALL-OFFS HAVE FALLEN NOTICEABLY IN RECENT WEEKS

* IS CURRENTLY ASSUMING THAT IT WILL TAKE SEVERAL WEEKS BEFORE DEMAND RECOVERS FULLY

* IS PLANNING TO INTRODUCE SHORT-TIME WORKING IN SWITZERLAND AND IN SOME OTHER COUNTRIES FROM MAY ONWARDS

* MEMBERS OF BOARD OF DIRECTORS, EXECUTIVE GROUP MANAGEMENT AND SENIOR MANAGEMENT WORLDWIDE WILL TEMPORARILY WAIVE 10 % OF THEIR FIXED COMPENSATION Source text: bit.ly/2VQX37S Further company coverage: (Gdansk Newsroom)

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