May 13, 2020 / 5:20 PM / 16 days ago

BRIEF-Titan Cement International Q1 EBITDA Down At 40.6 Millions Euros

May 13 (Reuters) - Titan Cement International SA:

* LOW VISIBILITY AND HIGH UNCERTAINTY OVER THE NEXT FEW MONTHS

* WE ESTIMATE THAT CEMENT MARKETS HAVE DECLINED OVER PAST SIX WEEKS BY SOME 10% IN FLORIDA AND MID-ATLANTIC, AS WELL AS TURKEY

* ON CORONAVIRUS: WE EXPECT DEMAND FOR OUR PRODUCTS TO BE HIT

* GROUP CONSOLIDATED REVENUE INCREASED BY 6.1% IN Q1 2020 REACHING €384.8M

* Q1 EBITDA DECLINED BY €3.7M, REACHING €40.6M

* EXPECTS DECLINE TO ABOUT 30%-40% IN MORE SEVERELY AFFECTED MARKETS LIKE SOUTHEAST EUROPE AND NEW YORK

* PRELIM APRIL YTD FINANCIALS SHOW THAT TOTAL REVENUE COMES FLAT COMPARED TO 2019 AT €508 MILLION

* PRELIM APRIL YTD EBITDA REACHED €67.2M, UP BY €5.7M OR 9.3%

* SINCE MID-MARCH 2020 OUTBREAK OF CORONAVIRUS HAD A SIGNIFICANT, ALTHOUGH UNEVENLY DISTRIBUTED IMPACT ON DEMAND FOR OUR PRODUCTS Source text for Eikon: Further company coverage: (Gdansk Newsroom)

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