April 23, 2020 / 5:57 AM / a month ago

BRIEF-TKH Group Expects Negative Impact Of COVID-19 To Be Higher In Q2 Than In Q1

April 23 (Reuters) - TKH GROUP NV:

* TKH UPDATE

* TKH TODAY PUBLISHES AN UPDATE ON SITUATION THAT HAS ARISEN AS A RESULT OF COVID-19 OUTBREAK AND IMPACT THIS HAS ON TKH’S TURNOVER AND RESULTS

* OUTBREAK OF COVID-19 HAS A NEGATIVE IMPACT ON BOTH TURNOVER AND RESULT

* LOCKDOWN IN CHINA, WHICH HAS NOW BEEN LARGELY BEEN LIFTED, HAD A LIMITED IMPACT

* SITUATION RESULTING FROM LOCKDOWNS IN ITALY, FRANCE AND US IN PARTICULAR IS HAVING A GREATER IMPACT

* ON CORONAVIRUS: DELIVERY OF SOME PROJECTS IS BEING POSTPONED DUE TO COVID-19

* THIS EFFECT IS EXPECTED TO BE HIGHER IN Q2 THAN IN Q1 OF 2020 AND WILL DEPEND ON DURATION OF COVID-19 MEASURES

* DUE TO COVID-19, TKH DOES NOT EXPECT TO MAKE ANY PROGRESS THIS YEAR WITH RESPECT TO PLANNED DIVESTMENTS IN CONTEXT OF ITS ‘SIMPLIFY & ACCELERATE’ PROGRAM, BEYOND DIVESTMENTS ALREADY MADE

* SINCE START OF PROGRAM, WE HAVE ALREADY DIVESTED EUR 260 MILLION TURNOVER Source text for Eikon: Further company coverage: (Gdansk Newsroom)

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