May 12, 2020 / 5:10 AM / 3 months ago

BRIEF-Dufry Q1 Turnover Down 23.6% At CHF 1.44 Billion

May 12 (Reuters) - Dufry AG:

* TURNOVER IN FIRST THREE MONTHS OF 2020 REACHED CHF 1,438.7 MILLION VERSUS CHF 1,882.6 MILLION IN SAME PERIOD IN 2019, REPRESENTING A DECREASE OF -23.6%

* PROPOSES TO UPCOMING ORDINARY GENERAL MEETING ON MAY 18, 2020, CREATION OF ADDITIONAL CONDITIONAL SHARE CAPITAL SUFFICIENT TO ENABLE PHYSICAL SETTLEMENT OF NEW CONVERTIBLE BONDS

* NEW FINANCING INITIATIVES WILL IMPROVE DUFRY'S LIQUIDITY POSITION FROM CHF 685.9 MILLION AS OF MARCH 31, 2020 TO A PRO-FORMA POSITION OF CHF 1,612 MILLION

* BUSINESS ENVIRONMENT REMAINED TOUGH DURING APRIL, WITH TRAVEL RESTRICTIONS IN PLACE IN MOST LOCATIONS

* SALES STOOD AT -94.1% IN APRIL PERIODIC

* Q1 ORGANIC GROWTH AMOUNTED TO -21.4% Source text for Eikon: Further company coverage: (Gdansk Newsroom)

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