Duni AB Provides Earnings Guidance for the Second Quarter of 2020
April 24, 2020 at 01:45 am EDT
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Duni AB (publ) provided earnings guidance for the second quarter of 2020. For the quarter, the company expected that Although several countries are now announcing gradual easing of the restrictions put in place, company's operational planning is based on the assumption of continuing restrictions and that the hotel and full-service restaurant segments will remain closed for much of the second quarter. Such a situation will cut company's sales in more than half compared to normal level for the quarter and, even counting the cost-cutting program, result in a loss for the quarter for the group.
Duni AB is a Sweden-based company that designs, produces and markets table setting products. It also provides packaging and packaging systems to the take-away market. In March 2014, the Company introduced new organizational structure, based on five business areas. The Professional business area was divided in three separate ones: the Table Top, offering napkins, table coverings and candles for traditional restaurants in Europe; the Meal Service, manufacturing products for take-away packaging, serving and catering, targeting fast food segment; and the New Markets, active in geographic markets outside Europe. In addition, it is active in the Consumer business area, focused on the grocery retail trade; and the Materials and Services, comprising all other sales, such as tissue paper and hygiene products. Duni AB operates in over 15 countries and has production units in Sweden, Germany and Poland. In June 2014, it acquired 100% of the shares in the Paper+Design Group.
DUNI AB 
