DO & CO Aktiengesellschaft / Key word(s): Miscellaneous
DO & CO Aktiengesellschaft:
03-Apr-2020 / 19:56 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
DO & CO Aktiengesellschaft announces as follows:
In view of the massive reduction in the number of flights offered worldwide due to the ongoing COVID-19 pandemic, and the restrictions and bans imposed by the authorities on events and the operation of restaurants, the revenue and result expectations of the analysts for the 2020/2021 business year, starting with 1 April, cannot be achieved.
To maintain operations, the Management Board has decided on a comprehensive package of measures to cut labour costs and costs of material, which is already being implemented.
Furthermore, it has to be assumed that the positive operating result for the 2019/20 business year will be adversely affected by exceptional charges resulting from the crisis and its impact on business operations.
From today's perspective, the company has secured sufficient liquidity in recent weeks to ensure its going concern.
Due to the ongoing and strong dynamics of the development caused by the pandemic, it is also not yet possible to estimate when an outlook for the business year 2020/2021 can be given.
Due to the ban on meetings, the General Meeting will not take place in Vienna on 15 July 2020 as planned. A new date will be announced in good time.
The Management Board has decided to propose to the General Meeting not to pay a dividend for the business year 2019/20.
Mag. Daniela Schrenk
Group Legal Department
03-Apr-2020 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
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