2 April 2020
Nordic Waterproofing has the construction industry as its primary customer group. Sales are primarily affected by the activity in Northern Europe, with emphasis on the Nordic countries representing 84 percent of the Group’s external sales in 2019. Nordic Waterproofing’s assessment is that the business as per end-March 2020 has not experienced any material negative impact related to the outbreak of Covid-19 (the Corona virus). The impact during the rest of the year, given the uncertain situation, is difficult to estimate but will likely have a dampening effect on sales if the pace of construction is slowing down as stricter measures are taken.
It is difficult to estimate the extent to which Nordic Waterproofing will be affected in the future as we do not know how long each country’s efforts will last. When setting the expectations for 2020, Nordic Waterproofing expected an operating profit (EBIT) in line with 2019, assuming comparable winter conditions during the fourth quarter. As the potential impact of Covid-19, as described above is unknown at this time, it is currently not possible to provide further guidance.