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Glunz & Jensen Holding provides trading update and guidance for 2020/21 considering COVID-19 impact.

NORDIC BUSINESS REPORT-June 29, 2020-Glunz & Jensen Holding provides trading update and guidance for 2020/21 considering COVID-19 impact

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Glunz & Jensen Holding A/S (CPH: GJ), a provider of prepress processes, on Friday reported that at current trading, the market demand in Q1 2020/21 (April 2020 through June 2020) for the group's products have been affected by COVID-19 and measures implemented across the world to contain the virus.

The company said delivery of products against firm orders has been difficult, further postponing revenues. Demand, however, seems to be trending up after ease of lockdowns and delivery is normalising.

Accordingly, for fiscal 2020/21, revenues are expected to be at the DKK150m to DKK160m level, while operating profit (EBITDA), excluding non-recurring items and fair value adjustments on investment properties, is expected at the DKK15m.

This outlook assumes that demand and delivery is not significantly affected by a second wave of COVID-19 outbreak and management underlines that the guidance for the fiscal year 2020/21 is associated with a substantial uncertainty as economies, and hence industrial demand, are still impacted by COVID-19.

(EUR1.00=DKK7.45)

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Publication:Nordic Business Report
Date:Jun 29, 2020
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