January 16, 2019 / 6:01 AM / 6 months ago

BRIEF-Airopack Technology Group: EBITDA Breakeven Level Not Seen Before H1/2020

Jan 16 (Reuters) - Airopack Technology Group AG:

* EQS-ADHOC: AIROPACK TECHNOLOGY GROUP AG: ANNOUNCES FIRST FINDINGS OF THE NEW MANAGEMENT TEAM AND INITIAL CONCLUSIONS OF THE BOARD OF DIRECTORS

* AIROPACK TECHNOLOGY GROUP - AIROPACK'S BOARD OF DIRECTORS SEES PREVIOUSLY ISSUED CONSOLIDATED FINANCIAL STATEMENTS FOR H1 OF 2018 NEED TO BE RESTATED

* CURRENTLY ESTIMATES REVENUE FOR H1 OF 2018 NEED TO BE DOWNWARD ADJUSTED IN RANGE OF APPROX. EUR4M TO EUR5M

* SAYS FY 2018 RESULTS EXPECTED TO SIGNIFICANTLY FALL SHORT OF WHAT AIROPACK HAS EXPECTED

* SAYS FINANCIAL OUTLOOK COMMUNICATED WITH RECAPITALISATION PLAN SIGNIFICANTLY REASSESSED

* SAYS EBITDA BREAKEVEN LEVEL IS NOT EXPECTED TO BE REACHED BEFORE FIRST HALF OF 2020 Source text for Eikon: Further company coverage: (Gdynia Newsroom)

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