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Actic: Pandemic restrictions to burden Q1 too - SEB

Actic is managing its costs and cash flow well amid falling sales from closed gym facilities in mainly Germany and Norway and low utilisation across its Swedish club network. Reflecting implications from continuing Covid-19 measures (closed clubs, social restrictions), we downgrade our sales and earnings forecasts. Based on our revised operating earnings estimates, we also expect a temporary breach of covenants to add to financial costs.ic

Actic is managing its costs and cash flow well amid falling sales from closed gym facilities in mainly Germany and Norway and low utilisation across its Swedish club network. Reflecting implications from continuing Covid-19 measures (closed clubs, social restrictions), we downgrade our sales and earnings forecasts. Based on our revised operating earnings estimates, we also expect a temporary breach of covenants to add to financial costs.ic
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