March 19, 2020 / 5:43 PM / 9 days ago

BRIEF-Sligro Food Group Sees EBITDA Decline Due To Covid-19 Crisis

March 19 (Reuters) - SLIGRO FOOD GROUP NV:

* ON CORONAVIRUS : ON BALANCE, BASED ON CURRENT CONDITIONS, WE HAVE LOST ABOUT 70% TO 75% OF OUR DELIVERY SALES

* IN THE CASH-AND-CARRY SECTOR, WE ARE CURRENTLY WITNESSING AN INCREASE IN SALES

* TO COMBAT EFFECT OF LOWER SALES, WE IMPLEMENTED LARGE PACKAGE OF MEASURES TO OFFSET DECLINE IN REVENUE BY REDUCING COST AS FAR AS POSSIBLE

* UNDER CURRENT CIRCUMSTANCES, WE EXPECT OUR EBITDA TO DECLINE BUT TO END UP BETWEEN BREAK-EVEN AND SLIGTLY POSITIVE

* OUR SAP ROLL-OUT IN BELGIUM AND THE INTEGRATION OF HEINEKEN AND DE KWEKER IN THE NETHERLANDS ARE GOING AHEAD AS FAR AS POSSIBLE

* ALL OTHER INVESTMENTS HAVE BEEN POSTPONED UNTIL FURTHER NOTICE Source text : bit.ly/2U0PuM6 Further company coverage: (Gdansk Newsroom)

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