January 25, 2021

The shares of Day plunged 42% in stock market after lowering their forecasts and suspend dividend

The shares of Day plunged 42% in stock market after lowering their forecasts and suspend dividend


DIA shares traded at the close of the stock exchange at 1.0970 euros this Monday, which represents a 42.22% drop that occurs after the company revised its forecasts for 2018 downwards as a result of the decline in its sales volumes and the increase in its operating expenses, which It has also led him to suspend his dividend policy for 2019.

In particular, as reported to the National Securities Market Commission (CNMV), DIA now estimates that the adjusted gross operating profit (Ebitda) forecast for 2018 will be in a range between 350 and 400 million euros, compared to the 568 million obtained in 2017.

The previous estimate does not include the impact that could arise from the imminent application of the new accounting standard for hyperinflationary economies that will be mandatory for DIA from the third quarter of 2018 due to its activity in Argentina.

On the other hand, As a result of the aforementioned review process, the company considers that certain adjustments to the consolidated financial statements for the year 2017 must be incorporated, which is estimated could have a negative equity effect for an approximate amount of 70 million euros.

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