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Nordic Waterproofing reports strong sales in Q1 2020; Expects COVID-19 pandemic impact in future.

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NORDIC BUSINESS REPORT-May 4, 2020-Nordic Waterproofing reports strong sales in Q1 2020; Expects COVID-19 pandemic impact in future

(C)2020 M2 COMMUNICATIONS http://www.m2.com

Nordic Waterproofing Holing A/S (STO: NWG), a provider of waterproofing solutions, products and installations, reported on Friday a net loss of SEK9m, or SEK0.37 per share, for the first quarter of 2020.

This was a slight improvement over net loss of SEK10m, or SEK0.44 per share, in the first quarter of 2019.

Consolidated net sales for the quarter increased by 18% to SEK670m, as compared with SEK569m in the first quarter of 2019. Organic growth amounted to 14%, acquisitions contributed by 3% and currency 1%.

According to Nordic Waterproofing, it had a strong first quarter with good growth in both sales and financial results. However, on 27 March 2020, it revised its forward-looking statement for 2020 as the impact on operations from the COVID-19 outbreak is hard to predict but it will likely have a dampening effect on...

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