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14th of May 2020

Adapteo's CEO Philip Isell Lind af Hageby comments on the Business review January to March 2020

"The financial performance during the first two months in the quarter developed in line with previous year, with noticeable lower market activity in March, as a result of the ongoing global pandemic. At the end of the first quarter, we saw a negative impact on new orders and earnings, specifically in the segments with shorter rental periods, such as the event business. There was also lower demand for offices in the private sector, where customer’s expansion plans have been postponed or cancelled. Within our core business of social infrastructure, the customers' decision-making processes have been negatively affected by the virus outbreak.”

“However, despite these challenging times, I feel confident in our resilient business model and our strong liquidity, and funding position, which make us well-equipped to handle this temporary downturn and hopefully coming out of this situation as an even stronger company.”

A resilient business model with long-term contracts

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