Regulatory Filings • Mar 20, 2020
Regulatory Filings
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Regulated Information Friday 20 March 2020 at 18:00h CET
With the spreading of the Corona virus we see an increasing number of construction projects in Europe being suspended which will negatively impact our industry.
Our first priority has been the safety and wellbeing of our employees, and necessary actions have been taken.
Although it remains difficult to quantify the likely slowdown, we have been taking immediate action to reduce our cost base. Production sites in Belgium and France have been temporarily closed, white and blue collar employees are enrolled in temporary workforce reduction schemes, board and management agreed on a voluntary remuneration decrease and various other measures have been implemented.
In this context, the Board of Directors will also propose to the General Meeting of Shareholders not to pay any dividend over the year 2019, contrary to what has been communicated in our press release of 20 February 2020.
We continue to monitor the situation very closely and will pro-actively take appropriate measures to safeguard the health of our people and the performance of our company.
Deceuninck's unaudited financial results for the first two months of 2020 have been strong with sales growing 12% mainly thanks to strong business development in North America and Europe and an improved macro-economic environment in Turkey. In addition, the strategic repositioning of Europe progressed further in line with expectations.
End of press release
Founded in 1937, Deceuninck is a top 3 independent manufacturer of PVC and composite profiles for windows and doors. Headquartered in Hooglede-Gits (BE), Deceuninck is organized in 3 geographical segments: Europe, North America and Turkey & Emerging Markets. Deceuninck operates 15 vertically integrated manufacturing facilities, which together with 21 warehousing and distribution facilities guarantee the necessary service and response time to Customers. Deceuninck strongly focuses on innovation, ecology and design. Deceuninck is listed on Euronext Brussels ("DECB").
Contact Deceuninck: Bert Castel • T +32 51 239 204 • [email protected]
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