Pandox AB (publ) estimates impact due to COVID-19 and withdraws previous proposed dividend for 2019
Due to the coronavirus (COVID-19) and the extraordinary government actions taken to limit the spread of the virus, business activity in Pandox’s key markets has decreased substantially during the past two weeks. Based on current information, Pandox estimates EBITDA to be approximately 15-20 percent lower than in the corresponding period last year. Based on current information, Pandox estimates the negative earnings effect to be considerably larger in the second quarter. Pandox would like to stress that these estimates are highly uncertain.Pandox’s financial and liquidity position is very