Adapteo Plc Regulatory press release 14 May 2020 at 7:30 a.m. CEST
Comments from the CEO
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.
The total effects of the pandemic cannot be quantified today. However, we have a leading position in Northern Europe, built on a solid platform with a resilient business model and a healthy liquidity and funding position. It makes us well-equipped to handle a short-term downturn and adapt to the new conditions while maintaining, or even strengthening, our competitiveness.
A conference call with a presentation for investors, analysts and media will be held today at 09.00 CEST. The presentation will be held via tele conference and webcast by President and CEO Philip Isell Lind af Hageby and CFO Erik Skånsberg. The session will start with a presentation, followed by a Q&A session and will be held in English. A recorded version will be available after the conference at www.adapteogroup.com under Investors.
Dial in numbers and links to conference call:
Finland: +358931583775, Sweden: + 46850558350, UK: +443333009273
Link to webcast: https://tv.streamfabriken.com/adapteo-q1-2020
For additional information, please contact
Philip Isell Lind af Hageby, President and CEO, +46 73 022 19 36, email@example.com
Niklas Alm, SVP Investor Relations, +46 708 24 40 88, firstname.lastname@example.org