May 11, 2020 / 3:49 PM / in 3 months

BRIEF-S Immo Expects Net Loss For Q1 2020

May 11 (Reuters) - S IMMO AG:

* NET LOSS FOR Q1 2020 IS EXPECTED

* AS OF 31 MARCH 2020, CASH AND CASH EQUIVALENTS AMOUNT TO OVER EUR 230M AND ARE THEREBY AT A VERY HIGH LEVEL

* RESULTS FROM PROPERTY VALUATION TURNED NEGATIVE BECAUSE OF EFFECTS OF COVID-19 PANDEMIC

* FURTHER EFFECTS OF COVID-19 PANDEMIC ON FINANCIAL YEAR 2020 CANNOT YET RELIABLY BE ESTIMATED

* A MODEST NEGATIVE VALUATION RESULT OF MORE THAN EUR -30M IS EXPECTED (EQUIVALENT TO APPROXIMATELY 1.3% OF IFRS PROPERTY PORTFOLIO) IN Q1 Source text for Eikon: Further company coverage: (Gdansk Newsroom)

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