Eezy Plc cancels its guidance and amends the dividend proposal

EEZY PLC  --  COMPANY ANNOUNCEMENT  --  20 MARCH 2020 AT 8.00

Eezy Plc cancels its guidance and amends the dividend proposal

  

Eezy Plc sees its business environment to have been significantly effected negatively by the global Corona virus epidemic. Especially the business volumes for HoReCa customers are estimated to have decreased significantly, at least for the upcoming months, as a significant share of restaurants have been closed and larger events have been cancelled. The manufacturing and construction business has so far experienced relatively small changes in demand, but the epidemic may also impact it negatively, along with our other businesses. To date, the retail, logistics and doctors staffing businesses have been exceptions in which demand has grown.

Eezy Plc has decided to cancel its profit guidance for the year 2020 given on 5 March 2020 (revenue EUR 260-300 million, operating profit approx. 8% of revenue). At this point, the company will not set a new guidance for the year 2020. A guidance will be provided when the company has a better understanding of the duration and effects of the corona virus epidemic.

The company plans to hold the Annual General Meeting on 21 April 2020, and is planning to provide an opportunity to participate remotely, which participants are encouraged to use.

In connection with the Financial Statements Bulletin on 5 March 2020, the Board of Directors made a dividend distribution proposal of EUR 0.20 per share. The Board has now amended the proposal so that instead of deciding on distributing a dividend during the spring, the AGM will decide on authorising the Board to decide on the distribution of a dividend of max. EUR 0.20 per share by the end of the year 2020.

CEO Sami Asikainen comments:

"The Finnish society is facing a significant challenge in the Corona epidemic. A large portion of our customers and also our employees are suffering from the exceptionally challenging conditions. Despite the difficult times, we will serve and help our customers throughout the crisis.

We aim to maintain our competitiveness and financial security in the rapidly changing situation. As one mitigating action, we have together with our personnel agreed on temporary layoffs for the whole organisation. The extent of the layoffs in each business area will take into account the respective prevailing market conditions, so that we can serve all customer sectors well, especially those that have seen an increase in demand.

Hopefully after a few months, we will be wiser regarding the effects of the Corona epidemic and can provide a guidance for 2020. Together with our committed personnel, we continue fulfilling working life dreams and confidently continue our journey toward market leadership."

Further information:

Sami Asikainen

CEO



tel. +358 (0)40 700 9915

Hannu Nyman

CFO

Eezy Plc



tel. +358 (0)50 306 9913

Certified Advisor:

Danske Bank A/S, Finland Branch, tel. +358 (0)10 546 7934