UIE's First Quarter Report 2020
On Tuesday 19 May 2020, UIE Plc. announced its First Quarter Report 2020. Highlights from Q1 UIE’s net result in the first quarter of 2020 amounted to a loss of USD 32.3 million, a USD 57.5 million reverse relative to the result reported in the first quarter of 2019. The impact of the Covid-19 pandemic on the financial markets caused significant negative fair-value adjustments to UIE’s investments in Schörling. While the underlying portfolio companies within Schörling are all affected by the pandemic-driven slowdown in business activity, they have all initiated various measures to