May 14, 2020 / 7:19 AM / 14 days ago

BRIEF-Tubacex Q1 Net Result Turns To Loss Of 1.6 Mln Euros YoY

May 14 (Reuters) - Tubacex SA:

* Q1 SALES 153.7 MILLION EUROS VERSUS 143.5 MILLION EUROS YEAR AGO

* Q1 EBITDA 12.4 MILLION EUROS VERSUS 14.3 MILLION EUROS YEAR AGO

* Q1 NET LOSS 1.6 MILLION EUROS VERSUS PROFIT 1.8 MILLION EUROS YEAR AGO

* COVID-19 HINDERS ANY KIND OF PROJECTION OR OUTLOOK THAT WE HAD FOR THIS YEAR - CEO

* LIKELY THAT CO’S WORKING CAPITAL WILL BE REDUCED THROUGHOUT THE YEAR

* MAGNITUDE OF THE IMPACT OF THIS CRISIS ON THE GROUP’S RESULTS IS STILL UNCERTAIN

* TUBACEX GROUP HAS SET THE FUNDAMENTAL GOAL OF MAINTAINING AN OPERATING CASH FLOW CLOSE TO ZERO Source text for Eikon: Further company coverage: (Gdansk Newsroom)

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