Edelman Update - COVID-19: Capital Market Communications

Friday, 1 July 2020   COVID-19: CAPITAL MARKET COMMUNICATIONS | NL PUBLIC CORPORATES

This regular newsletter aims to provide an overview of the response by listed Dutch companies to the COVID-19 pandemic with a focus on capital market communications. We will cover updates to outlook and guidance, financial impact, dividends, remuneration, AGMs and other relevant corporate actions. The overview includes the constituents of the AEX, AMX and, from March 26th onwards, the AScX.

• Financial Reporting
• Dividend Updates
• Remuneration Updates
• Financing Updates
• AGM Season
• Other Actions

 FINANCIAL REPORTING | COVID-19

SHELL 30 JUNE 2020

Announced in a second quarter update that Oil Products sales volumes are expected to be between 3,500 and 4,500 thousand barrels per day, driven by a significant drop in demand related to the impact of COVID-19. Consequently, it has announced a revised long-term commodity price and margin outlook.

PROSUS 29 JUNE 2020

Reported in its annual results that revenue increased by 23% to USD 21.5 billion, while trading profit grew 16% to USD 3.8 billion. Additionally, it experienced significant growth of USD 4.3 billion in e-commerce. CEO Bob Van Dijk said: “We also expect that group businesses are likely to benefit from a further acceleration of the underlying trend toward online - brought about by the Covid-19 pandemic – to emerge well-placed for long-term growth.”

TKH GROUP

Reported in its H1 trading update that the negative impact from the COVID-19 pandemic is expected to cause turnover in the first half of 2020 to fall between 8% and 9% compared to H1 2019 and EBITA will decrease between 13% and 16%. It will take a one-off charge of EUR 3 to 5 million in Q2 to support cost savings measures.

PROSUS 18 JUNE 2020

Announced in its trading statement that business segments performed well over the last year, with ecommerce at the forefront of this growth. However, it cautions that COVID-19 had a negative impact on some of its business segments. The company will publish its annual results on 29 June 2020.

POST NL 17 JUNE 2020

Announced it expects Q2 2020 normalised EBIT to come in strongly above last year (Q2 2019: EUR39 million) as a result of 25% growth in Parcels, mainly driven by the COVID-19 pandemic.

NEDAP 16 JUNE 2020

Published an extra trading update for Q2 2020, citing that revenue is expected to be lower than Q2 2019 due to a negative impact from COVID-19. The company said that it is not yet possible to provide a financial outlook.

GRANDVISION 15 JUNE 2020

Announced it has seen an increase in sales as 80% of stores have reopened, with performance being particularly strong in Benelux, Germany, Austria, Switzerland and across most of the Nordics. Furthermore, it reports e-commerce sales have grown over 80% over the last 5 months.

AIR FRANCE-KLM 12 JUNE 2020

Air France announced that it expects to gradually increase flight schedules for 150 destinations over the summer, reaching 35% of the flight schedule initially planned in July and 40% in August.

ACCELL GROUP 12 JUNE 2020

Reports a recovery in sales for the month of May, following a 27% drop in sales from the coronavirus lockdowns in March and April. Although it is increasing production, it expects delays in the second half of 2020 as the coronavirus crisis has affected product availability and supply chain continuity.

DSM 12 JUNE 2020

Announced it has cancelled the remaining EUR 1 billion in its share buyback program as a result of the economic impact from the corona virus crisis.

JUST EAT TAKEAWAY.COM 10 JUNE 2020

Announced it will acquire American food deliverer GrubHub for a total consideration (on a fully diluted basis) of USD 7.3 billion. April and May sales were up 41%, as the company states that nearly all markets are that were significantly affected by the COVID-19 crisis have recovered above pre-crisis levels.

NIBC 8 JUNE 2020

Announced it has re-entered discussions with Blackstone, supported by its majority shareholders J.C. Flowers & Co and Reggeborgh Invest B.V. to amend the proposed transaction. The key proposed amendments consist of a reduction of the offer price to EUR 7 per share and the introduction of a liquidated damages payment of EUR 46 million made by Blackstone in circumstances where the offer is not declared unconditional because regulatory clearances are not obtained and in certain other cases

ASMI 2 JUNE 2020

Announced it has commenced its share buyback program of up to EUR 100 million. The company states that after taking into consideration the impact from COVID-19, its financial position is sufficiently strong enough to move forward with its share buyback program and dividend payment.

NEDAP 2 JUNE 2020

Announced it will publish an additional trading update on June 16, 2020 prior to its Annual General Meeting of Shareholders.

POSTNL 2 JUNE 2020

Announced its full year outlook for free cash flow in 2020 has improved by EUR 100 million, following an agreement between PostNL and Pension Fund PostNL regarding the details and conditions of the final payment for its transitional pension plan.

UNIBAIL-RODAMCO-WESTFIELD 2 JUNE 2020

Announced that 65 of its 90 shopping centers have reopened as COVID-19 lockdown restrictions begin to lift. Thus far, footfall is above anticipated levels. The company expects 87% of its centers to have reopened by June 15

BASIC-FIT 29 MAY 2020

Announced that it will be reopening clubs in France, Spain and Belgium throughout June, and expects the remainder of its clubs in the Netherlands to reopen from July 1. Furthermore, it said that it will complete the process of obtaining a EUR 60 million bank facility on May 29.

LUCAS BOLS 28 MAY 2020

Reported in its full year results for 2019/20 that revenue came in at EUR 84.0 million, down 3.5% compared to the previous year. The company experienced a 30% decrease in sales from the impact of COVID-19 during the month of March, with global brands being hit the hardest.

As over half of the company's business stems from on-trade activity, it expects that the impact from COVID-19 will continue to worsen whilst lockdowns remain. As lockdowns in various markets begin to ease, it expects a gradual recovery – however, overall results will be lower than the previous year.

EUROCOMMERCIAL PROPERTIES 27 MAY 2020

Announced that it has reopened all of its shopping centers in Italy, Belgium and France, in addition to its centers in Sweden which have remained open during the COVID-19 pandemic. The company states that while it has yet to gather final sales data, turnover is outperforming footfall as customers return to stores. It expects to see a further increase in footfall once restaurants begin to reopen, allowing shopping centers to return to rather normalized trends.

VASTNED 21 MAY 2020

Announced that it will be accelerating its strategy aimed at growing its high street assets in Amsterdam, Antwerp, Paris and Madrid. The strategy was due to be updated next year, but the company decided to move forward early, due to the current retail market and outbreak of COVID-19.

ALTICE EUROPE 20 MAY 2020

Reported that first quarter revenue was up 3.6% and EBITDA grew 1.0%, compared with Q1 2019. The group said that it has experienced negative financial impacts from COVID-19, including delays in construction of residential glass fibre infrastructure and a reduction in equipment sales from store closures. It expects to make up for these losses in Q2 2020. The company said that it maintains its 2020 guidance.

A.S.R. 20 MAY 2020

Reported that it experienced limited impact from COVID-19 on its business. Operating results for Q1 2020 came in at EUR 184 million, compared with EUR 208 million in 2019. Of this decrease, EUR 13 million was due to a storm in February 2020, while EUR 18 million is attributed to the negative impact of COVID-19.

B&S GROUP 18 MAY 2020

Reported that the Group has experienced an impact from COVID-19 on its Q1 2020 results, with a 5.3% drop in organic turnover. However, it reports that online sales to platforms

and the acquired medical supply business of Lagaay counterbalanced the

effect of COVID-19, resulting in only a 1.3% decline in Q1 revenue.

As a result of COVID-19, the Group expects to see a 25-35% decline in sales volumes for Q2 2020 on a like-for-like basis.

PHARMING 14 MAY 2020

The pharmaceutical company announced that first quarter revenue increased by 40% and operating came in at EUR 19.4 million, up 59% compared to Q1 2019.

The company states that new recruitment for ongoing clinical trials has been paused due to COVID-19, thus causing some delays. There has been no impact on the production and distribution of RUCONEST®.

Furthermore, it expects to begin an investigator-sponsored multi-centre randomised controlled clinical trial for confirmed COVID-19 patients in the near future.

SBM OFFSHORE 14 MAY 2020

Announced that first quarter results were in line with expectations, with directional

revenue coming in at USD 607 million. The company states that it is impacted by the disruption in the oil and gas industry and is therefore taking measures to reduce costs during the COVID-19 pandemic. Such measures include implementing a hiring freeze and reducing aggregate staff and contractor workforce by 300 positions.

Additionally, it has adjusted its full year directional revenue outlook to USD 2.3 billion.

SIF 14 MAY 2020

Reported that Q1 2020 EBITDA fell 34% compared to Q1 2019, primarily due to the impact from COVID-19 on production in March 2020. The group said that it has paused offshore projects in the oil and gas industry considering the current market climate caused by COVID-19.

It foresees that total production for FY2020 will be slightly lower than originally forecasted.

VIVORYON THERAPEUTICS 14 MAY 2020

Reported that research and development expenses rose to EUR 2.83 million compared to

EUR 447,000 in Q1 2019. Further, it reported a net loss of EUR 3.3 million for Q1 2020, compared to EUR 910,000 in the first quarter of 2019.

ABN AMRO 13 MAY 2020

Announced a net loss of EUR 395 million in Q1 2020, compared with a net profit of EUR 478 million Q1 2019.

Impairment costs for Q1 2020 came in at EUR 1,111 million, compared with EUR 102 million in Q1 2019. The company attributes the drastic rise in charges to two major client files and significant upfront collective provisioning for sectors immediately impacted by Covid-19 and oil prices. The bank has set aside EUR 2.5 billion in provisions for bad loans in FY 2020.

BOSKALIS 13 MAY 2020

Announced that first quarter earnings came in above expectations with increase in revenue and higher EBITDA than Q1 2019, reflecting limited impact from COVID-19.

The company said that it refrains from providing a full year outlook at this time but remains cautiously optimistic

AEGON 12 MAY 2020

The insurer reported pre-tax earnings came in at EUR 366 million reflecting adverse mortality and lower interest rates in the Americas, as well as COVID-19 related non-life claims in the Netherlands.

Aegon CFO, Matt Rider, said, "In the first quarter of 2020, underlying earnings in Europe, Asia and Asset Management held up well. However, earnings in the United States were negatively affected by the drop in interest rates as a result of the COVID-19 crisis, and unfavorable mortality experience, which was largely unrelated to COVID-19.”

The company noted that due to the uncertainty surrounding COVID-19, it is unlikely that it will reach its 10% return on equity target for 2020.

OCI 11 MAY 2020

The nitrogen and methanol producer reported a strong first quarter, with revenue up 36% and adjusted EBITDA up 49% compared with Q1 2019. Its growth is primarily from the Nitrogen business, saying that demand has not been affected by the COVID-19 pandemic.

The company said that plants have maintained operations throughout the crisis, as governments consider its products essential. OCI said it is on track to meet its 2020 commitments.

HEIJMANS 8 MAY 2020

Announced turnover exceeded expectations for Q1 2020, with 666 homes sold through April 2020, compared with 479 in 2019. The company said that it experienced little impact from the COVID-19 pandemic but cannot provide a concrete outlook due to uncertainty surrounding the market.

ING 8 MAY 2020

Announced a net result of EUR 670 million for Q1 2020, a 40.1% decline compared with EUR 1,119 million in Q1 2019, primarily affected by higher risk costs and negative valuation adjustments as a result of the COVID-19 pandemic. Furthermore, Q1 2020 result before tax fell by 35.7% due to an increase in risk costs. CEO Ralph Hamers said that it has granted 100,000 payment holidays in various markets, allowing customers to postpone loan repayments.

AHOLD DELHAIZE 7 MAY 2020

Reported a 14.7% growth in net sales and a 37.7% growth in net consumer online sales for Q1 2020. The company experienced an unexpected spike in sales volume attributed to customer stockpiling from the COVID-19 pandemic. It said that it maintains its full year outlook for underlying operating margin to be broadly in line with 2019.

AIR FRANCE-KLM 7 MAY 2020

Announced that operating results for Q1 2020 came in at EUR -815 million, down EUR 529 million compared to last year. This significant drop is due to the impact COVID-19 had on air travel in March 2020.

The company said that it foresees a further drop in operating results for Q2 2020 and the full year and does not expect to return to pre-COVID-19 levels for several years.

ARCELOR MITTAL 7 MAY 2020

Reported an operating loss of net loss of USD 1.1 billion in Q1 2020, compared with a net income of USD 0.4 billion for Q1 2019. Due to the outbreak of the COVID-19 pandemic, the steel industry has faced a major drop in demand, resulting in reduced production.  Chairman and CEO Lakshmi Mittal said “The remainder of this year will be challenging, but I am confident that ArcelorMittal has the experience and inherent resilience, to manage through these difficult times.”

BAM 7 MAY 2020

Announced revenue for Q1 2020 came in at EUR 1,603 million, compared with EUR 1,590 in Q1 2019. The Group said that operations at most sites have continued, with safety measures being implemented to protect workers. It reports a strong liquidity position of EUR 944 million, including drawn RCF.

DSM 7 MAY 2020

Reported sales for Q1 2020 came in at EUR 2,293 million, compared with EUR 2,292 million in Q1 2019.  The company said its Nutrition business witnessed a slight increase in demand from COVID-19, while its Materials business experienced a sudden drop as customer operations were disrupted by the crisis. It expects Nutrition to experience a mid-single digit increase in Adjusted EBITDA in 2020 but will not provide guidance for its Materials business due to uncertainty surrounding the current situation.

GALAPAGOS 7 MAY 2020

Reported an operating loss of EUR 44.6 million and a net loss of EUR 50.6 million. The company said that it ended the quarter with a strong cash position of EUR 5.7 billion. As a result of COVID-19, its cash burn guidance for FY2020 is expected to be in the range of EUR 400 - EUR 430 million, down versus the previously stated cash burn projection due to the pause in recruitment or postponed starts of some clinical trials.

VAN LANSCHOT KEMPEN  7 MAY 2020

Announced a net loss of EUR 10.5 million for Q1 2020, driven by material impact on structured products and investments in own funds. Income from operating activities came in at EUR 88.3 million, down 27% compared to EUR 120.2 million in Q1 2019. The company said that capital and liquidity ratios have remained robust.

VASTNED 6 MAY 2020

Reported strong operating results in Q1 2020, with the occupancy rate down slightly to 97.0% compared with 98.0% in Q1 2019.  The company said that it is in close contact with tenants regarding the lockdown situation from COVID-19, stating that they are tailoring arrangements to meet both the tenants needs as well as Vastned’s shareholders

ALFEN 6 MAY 2020

Announced that the company performed exceptionally well amid the COVID-19 pandemic, pulling in EUR 44.1 million in revenue, up 58% versus Q1 2019 (EUR 28.0 million). The energy company says the impact from COVID-19 is minimal, as order intake has remained strong and it has not experienced any cancellations. The company will not provide guidance considering the uncertainty from COVID-19.

APERAM 6 MAY 2020

Announced sales came in at EUR 1,049 million for Q1 2020, compared with EUR 1,178 million in Q1 2019. EBITDA decreased to EUR 70 million (EUR 81 million Q1 2019) as a result of temporary plant closures and transportation disruptions from mid-March caused by the COVID-19 pandemic.

EUROCOMMERCIAL PROPERTIES 6 MAY 2020

Reported like-for-like growth of 1.7% for Q3 2020, mainly driven by strong performance in Sweden as shops have remained open. In Belgium, France and Italy, all stores aside from food stores and pharmacies have been closed since mid-March and are now preparing for a gradual reopening in mid-May.

WOLTERS KLUWER 6 MAY 2020

Announced it has experienced little impact from COVID-19 on its Q1 2020 results, with revenues up 3% in constant currencies and up 4% organically. The company will continue with the repurchase of EUR 350 million shares, but at a slower rate. Further, it maintains its decision to refrain from providing further guidance as the situation regarding COVID-19 is uncertain.

AMG 5 MAY 2020

Announced it experienced a 20% decrease in revenue to USD 278.3 million, compared with USD 346.5 million in Q1 2019. This significant drop in revenue is due to the decline in metal prices across the company's portfolio. It also reports that EBITDA came in at EUR 22.3 million, a 56% decrease from EUR 50.4 million in Q1 2019, largely due to a decrease in ferrovanadium prices and drop in titanium alloy sales.

GRANDVISION 5 MAY 2020

Reported a 4.4% decline in revenue, saying it experienced an 80% decrease in revenue for the month of April due to the COVID-19 pandemic. The company also said that it has seen an 85% increase in online revenue as many shoppers are increasingly engaging in e-commerce. Nevertheless, it expects the impact from COVID-19 to carry over into Q2.

POST NL 4 MAY 2020

Reported overall revenue of EUR 701 million for Q1 2020, compared with EUR 684 million in Q1 2019. Since mid-March, it has seen a 13.6% growth in e-commerce due to an increase in online orders during the COVID-19 crisis. Simultaneously, it faced an impact from the COVID-19 pandemic as mail volumes declined by 12.8%. The company commits to its full year outlook for normalised EBIT of between EUR 110 million and EUR 130 million.

FORFARMERS 1 MAY 2020

Announced its Q1 results reflected higher underlying EBITDA despite lower volumes. Its guidance was restricted to expecting a better first half underlying EBITDA year-on-year, but due to COVID-19 gave no further expectations. The company saw no material impact of their COVID-19 measures on core processes.

BRUNEL 30 APRIL 2020

Announced that its Q1 results reflected positive growth amidst the COVID-19 pandemic, reporting a revenue increase of EUR 257 million, up 6% from Q1 2019. It reports that this growth is primarily due to high performance in the Middle East and India region. Performance in the DACH region was impacted as there was a significant decrease in new projects for the region. The company expects a steep decline in revenue for Q2 from a combination of seasonality and the impact of COVID-19.

CORBION 30 APRIL 2020

Reported that it experienced significant growth in Q1 2020 from the COVID-19 pandemic as business shifted from out of home to grocery retail outlets. Net sales were up 12% due to organic sales growth of 9.6% and positive currency effects, while adjusted EBITDA grew 24.1% organically. Although the company experienced a spike in sales for Q1, it does not expect to see it carry over into future quarters and will maintain its outlook.

FUGRO 30 APRIL 2020

Reported that it experienced solid growth in Q1 2020 from clients in the offshore wind and intercontinental subsea cable routing activities. However, it has experienced a major impact from the oil and gas industry, which is struggling amidst the COVID-19 pandemic. Further, its results varied from market to market.

• Revenue came in at EUR 358.4 million, compared with EUR 355.8 million in Q1 2019.
• Adjusted EBIDTA came in at EUR 7.2 million, compared with EUR 14.6 million in Q1 2019.

In light of the circumstances surrounding COVID-19, the company refrains from providing an outlook for 2020.

KPN 30 APRIL 2020

Reported a limited impact from COVID-19 on its operational and financial results for Q1 2020, emphasising that it is premature to say what the total impact of the crisis will be on KPN going forward.

•  2.4% decline on adjusted revenue for Q1 2020 due to lower revenues from KPN Consulting and continued pressure on fixed voice and mobile services
• 2.1% increase in adjusted EBITDA after leases (+3.1% year-on-year corrected for impact of divestments). The lower revenues were more than offset by EUR 38 million in net indirect opex savings; margin increased to 43.3%
• Net profit came in at EUR 120 million, an increase of EUR 31m compared to the same period last year

The company said that it has launched several initiatives to ensure that the Netherlands has access to connect and communicate during the COVID-19 pandemic.

LUCAS BOLS 30 APRIL 2020

Reported that the company is experiencing a revenue decrease of 3.5%, particularly due to the fact that COVID-19 lockdowns have forced many on-trade businesses to close, where the company makes most of its profits.

SHELL 30 APRIL 2020

Announced in its Q1 2020 results that earnings came in at USD 2.9 billion, a 46% decrease compared with USD 5.3 billion in Q1 2019.

• CEO Ben van Beurden said that the company is in a challenging position: “Given the continued deterioration in the macroeconomic outlook and the significant mid and long-term uncertainty, we are taking further prudent steps to bolster our resilience, underpin the strength of our balance sheet and support the long-term value creation of Shell.”

BESI 29 APRIL 2020

Announced that the company has performed well in Q1 2020, despite production challenges brought on by the spread of COVID-19.

• Revenue was up 12.2% from Q1 2019 as demand for mobile applications increased.
• The company expects to see a revenue increase of 5-25% for Q2 2020.

UNIBAIL-RODAMCO-WESTFIELD 29 APRIL 2020

Reported a total turnover of EUR 956.6 million in Q1 2020, a 1.8% increase from Q1 2019. The company said that its Convention and Exhibition business in France and retail activity in parts of Europe have been impacted the most from COVID-19. In Europe, URW’s tenants pay rent on a quarterly basis, which could contribute to the lack of impact from the COVID-19 pandemic as the company expects to see a greater impact in Q2 2020.

• It has temporarily moved to billing monthly. As at April 24, URW had collected circa 20% of the April retail rent, despite having extended payment terms for most of the April and May rent without applying penalties.

In terms of capex, it will remove an additional EUR 1.6 billion of projects and deferred EUR 500 million of discretionary capex for 2020.

WDP 29 APRIL 2020

Announced it has begun investing in future projects to prepare the business post COVID-19. The company said that it can afford to make such investments as it has diverse financing of debt and equity including an optional dividend reinvestment scheme.

NIBC 28 APRIL 2020

Private equity firm Blackstone announced that it is renegotiating the terms of its proposed acquisition of NIBC, saying it is unable to fund the acquisition due to NIBC postponing its dividend payment.

ARCADIS 24 APRIL 2020

Announced organic net revenue growth of 3% to EUR 658 million (gross revenues: EUR 872 million) compared with EUR 628 million (gross revenues: EUR 872 million) in Q1 2019.

• Operating EBITA came in at EUR 48 million compared to EUR million a year earlier.
• Operating margin, which was impacted by COVID-19 in Asia, came in at 7.2%, compared with 7.6% Q1 2019.
• Free cash flow of EUR 84 million, compared with EUR 52 million in Q1 2019 impacted by a large engineering software license renewal (three years) of EUR 24 million.

The company said that it has experienced little impact from the COVID-19 pandemic on its Q1 results. Nevertheless, due to the current uncertainty, it will refrain from providing guidance for 2020.

SIGNIFY 24 APRIL 2020

Reported EUR 1.42 billion in sales for Q1 2020, a 3.5% drop compared to 1.47 billion in Q1 2019. Net income came in at EUR 27 million, compared with EUR 44 million in Q1 2019. The company said that this 39.2% decrease is due to higher acquisition-related charges and other incidentals.

• Free cash flow of EUR 112 million, compared with EUR 55 million Q1 2019.

The company is implementing several measures to reduce costs and preserve capital during the COVID-19 crisis. At the moment, it refrains from providing financial guidance for 2020.

WERELDHAVE 24 APRIL 2020

Reported a net rental income of EUR 39.4 million for Q1 2020, a 9.5% decrease compared to EUR 43.4 million in Q1 2019. Further, it reports an EPRA EPS of EUR 0.66, compared with EUR 0.70 in 2019.

The company said that it has experienced a significant negative impact from COVID-19 as footfall has decreased and many of its tenants are requesting deferrals and looser restrictions on paying rent or suggesting they will not pay rent at all.

INTERTRUST 23 APRIL 2020

Announced that it saw a underlying revenue increase of 2.1% in Q1 2020 to EUR 142.1 million.

• Adjusted EBITA margin came in at 32.8% vs 36.4% a year ago, reflecting investments in its Centre for Excellence.
• It saw an improvement in working capital for the 6th consecutive quarter and a cash flow increase of 12.8% from operating activities.

Although the company has remained strong through 80%-90% recurring revenue and long-term contracts with clients, it has decided to withdraw guidance for 2020.

ORDINA 23 APRIL 2020

Announced net profit of EUR 5.8 million (Q1 2019: EUR 3.1 million) and a 1.8% increase in revenue to EUR 96.3 million for Q1 2020 (Q1 2019: EUR 94.6 million).

• Revenue from the Netherlands dropped 1.5% to EUR 64.3 million (Q1 2019: EUR 65.4 million)
• Revenue from Belgium/Luxembourg rose 9.3% at EUR 31.9 million (Q1 2019: EUR 29.2 million)
• EBITDA increased to EUR 12.1 million (Q1 2019: EUR 8.6 million)

The company said that revenue in the Netherlands was conservative due to subcontractor's reduction in revenue. Further, revenue in Belgium/ Luxembourg was driven by the higher number of employees and strong operations.

SLIGRO 23 APRIL 2020

Announced sales for Q1 2020 came in at EUR 533 million, up 1% compared with Q1 2019 (EUR 528 million). The company said it suffered a significant impact from COVID-19, stating that many of its customers had to shut down operations, resulting in a EUR 45 million drop in sales. It expects that current market conditions will continue into Q2 2020. It refrains from providing guidance on its half year results, set to be announced July 23 2020.

TKH 23 APRIL 2020

Announced a decline of 1.9% in organic turnover for Q1 2020, caused by a drop in Industrial Solutions, while turnover increased within Telecom Solutions and Building Solutions.

• EBITA was virtually unchanged for Q1 2020 when compared with Q1 2019. The decline at Industrial Solutions and, to a limited extent, at Telecom Solutions was offset by an increase at Building Solutions.
• As of 31 March 2020, its order book increased compared to Q4 2019, despite the COVID-19 situation.

COVID-19 has had a negative impact on both its turnover and results, specifically from lockdowns in Europe and the US. It had divested € 260 million turnover since the beginning of its ‘Simplify & Accelerate’ program and does not expect to make any progress this year beyond what has been made. The company aims to provide a full year outlook for 2020 when presenting its half-year results on 11 August 2020.

UNILEVER 23 APRIL 2020

Reported flat underlying sales growth with a volume growth of 0.2% and negative price of 0.2%.

• In developed markets it saw an underlying sales growth of 2.8%, while emerging markets declined 1.8%.
• it reports an increase of 0.2% in turnover, including a positive impact of 0.6% from acquisitions net of disposals and negative impact of 0.4% from currency.

The company said that COVID-19 has impacted both consumer demand and supply of goods in most markets. In some markets, there was an initial spike in volume for household and food products, while lockdowns in various markets affected out of home consumption.

WOLTERS KLUWER 23 APRIL 2020

Reported at its AGM meeting an organic revenue growth of 4% and a sustained organic growth of 5% for recurring revenue for Q1 2020. Non-recurring revenues declined 2%, exhibiting the early impact from COVID-19 in the final two weeks of March. The company will communicate further details on growth and outlook in its first-quarter trading update scheduled for May 6, 2020.

AKZO NOBEL 22 APRIL 2020

Announced in its Q1 results that despite the impact from COVID-19, its Q1 adjusted operating income increased by 31% to EUR214 million compared to EUR163 million a year earlier. Q1 revenues declined 5% in constant currencies mostly due to the impact of COVID-19.

• Akzo Nobel had earlier suspended its 2020 financial guidance

BASIC-FIT 22 APRIL 2020

Reported EUR137.5 million in revenue for Q1 2020, compared to EUR119.4 in Q1 2019. Due to the COVID-19 pandemic, the company has closed all of its fitness club locations. In response to this, it has lowered club operating costs and the overhead costs by around 65%

• Basic-Fit agreed to EUR40 million in additional financing and is currently in the process of obtaining an additional EUR60 million in government aid.
• Furthermore, the company has withdrawn guidance for 2020.

HEINEKEN 22 APRIL 2020

Reported that beer volume for Q1 2020 has dropped 2.1% organically, while volume for its Heineken brand grew 5.0%. The company reported a net profit of EUR94 million for Q1 2020 compared to EUR299 million Q1 2019. This drop in net profit is due to the negative impact on volume experienced in March 2020 caused by the COVID-19 pandemic.

ICT GROUP 22 APRIL 2020

Announced Q1 2020 revenue of EUR41.6 million, a 6% growth compared to Q1 2019 (EUR39.4 million). Due to lower productivity levels, EBITDA decreased by 7% to EUR4.5 million (Q1 2019: EUR4.8 million). Given the current circumstances surrounding the COVID-19 pandemic, the company will not provide an outlook for 2020.

RANDSTAD 22 APRIL 2020

Announced Q1 organic revenues declined by 7.4% to EUR5.41 billion and reported a 29% year-on-year decline in underlying EBITA to EUR 162 million.

The company said that it has seen a significant impact from COVID-19 on the business and expects the situation to continue into Q2 2020 with very limited visibility.

WDP 22 APRIL 2020

Reported that earnings for the first three months of 2020 came in at EUR38.1 million, an increase of 14% compared to Q1 2019. The company said that it has a robust balance sheet, and that it is prepared to endure the COVID-19 crisis.

ADYEN 21 APRIL 2020

Announced 38% growth in process volume and a 34% growth in net revenue for Q1 2020, compared with Q1 2019. From mid-March to mid-April it has experienced a steep decline in revenue from its travel and in-store retail verticals, and positive impact in digital goods and online retail.

• It reported its EBITDA margin declined as it continues to invest in long-term growth, both in the form of continued hiring and marketing campaigns, combined with a net revenue that was impacted by COVID-19 in March.
• Free cash flow conversion ratio was 93% in Q1 2020, with capex remaining <5% of net revenues.

ASM 21 APRIL 2020

Announced net sales of EU325 million for Q1 2020 (compared to EUR248.8 Q1 2019), and an operating result EUR78 million (compared to EUR47 million in Q1 2019). In comparison to Q4 2019, normalized net earnings dropped by EUR30 million. New orders for Q1 amounted to EUR333.5 million.

The company said that COVID-19 lockdowns in various markets have significantly affected its supply chain and logistical operations. The company widened its expected Q2 sales range to EUR300-350 million, from EUR330-350 million previously.

FLOW TRADERS 21 APRIL 2020

Announced in its Q1 results that the firm has been able to function normally in the wake of COVID-19 as it implemented business continuity measures in all regions. It reports:

• Market ETP Value Traded increased 100% quarter-on-quarter and 80% vs Q1 2019.
• ETP Value Traded increased 76% quarter-on-quarter and increased 71% vs Q1 2019
• Flow Traders recorded a Net Trading Income of EUR495.0m in Q1 2020, compared to EUR46.1m in Q4 2019 and EUR63.1m in Q1 2019.
• The company also proposed a final FY19 dividend of EUR0.55 will now take the form of an interim dividend and a final year dividend of EUR0.00 resulting in a total dividend of EUR0.90 for FY19. An interim dividend for FY20 will be proposed at the rescheduled AGM.

JUST EAT 21 APRIL 2020

Just Eat Takeaway.com announced in its Q1 trading update for Just Eat that the company has performed very well in the first three months of 2020, reporting a 6% increase in orders compared with the corresponding period in 2019.

• In mid-March, the company experienced a slight reduction in order volume due to government restrictions. However, it has nearly completely recovered since.

VOPAK 21 APRIL 2020

Announced an EBITDA of EUR200 million for Q1 2020 vs EUR215 million in Q1 2019 (pre-divestment).

EBITDA increased by EUR3 million to EUR200 million quarter-on-quarter. Further, it reports an occupancy rate for subsidiaries of 84%, compare to 86% in Q1 2019. The company said that it has experienced little impact on the business from COVID-19, and all of its 66 terminals are still in operation.

AMG 20 APRIL 2020

Announced it will withdraw its earnings guidance for 2020 due to volatility surrounding the COVID-19 pandemic. A new target will be announced once the global industrial economy begins to stabilize. The company said its liquidity remains strong, with approximately $200 million in cash, $170 million of undrawn revolver capacity, and $300 million of cash reserved to finance its ferrovanadium expansion project in Ohio.

IMCD 20 APRIL 2020

Announced an 11% EBITA growth and 12% gross profit growth in the first three months of 2020.

• Net result before amortisation and non-recurring items increased 13% to EUR 50.2 million (+13% on a constant currency basis)
• Cash earnings per share increased by 13% to EUR 0.94 (first three months of 2019: EUR 0.83)

CEO Piet van der Slikke said that, although the company has performed well during the COVID-19 pandemic, it is unable to predict the overall impact on results in the coming months.

PHILIPS 20 APRIL 2020

Announced that the impact from COVID-19 had a significant effect on its Q1 2020 results, with

Q1 sales amounting to EUR 4.2 billion, a 2% comparable sales decrease. The company experienced a rise in comparable order intake of 23%, most notably in diagnostic imaging, hospital ventilators, and patient monitors.

• Income from continuing operations was EUR 42 million, compared to EUR 171 million in Q1 2019, as the company saw a significant decline of 13% in its Personal Health businesses, with all businesses declining due to a drop in consumer demand
• Adjusted EBITA margin was 5.9% of sales, compared to 8.8% of sales in Q1 2019
• Operating cash flow amounted to EUR 143 million, compared to EUR 14 million in Q1 2019

The company expects to see a further impact on the business in Q2 2020 and hopes to see a gradual stabilization and improvement in profitability in the second half of 2020.

FUGRO 17 APRIL 2020

Announced the COVID-19 pandemic and current decline in oil prices will have a significant impact on Seabed Geosolutions’ activity levels and 2020 results.

• Seabed will implement rigorous cost and capex reduction measures due to the cancellation of a major project in the Middle East, and the postponement of another project in Brazil caused by implications from the COVID-19 pandemic.
• The cancellation of the Middle East project will trigger one-off project related charges estimated at around EUR 20-30 million, to be recognised in the first quarter of 2020 with a related cash impact of around 50%.

NIBC 17 APRIL 2020

Announced that in light of the current circumstances from COVID-19, NIBC expects it will not achieve its previously formulated medium-term objective of 10 – 12% ROE over 2020.

• NIBC said it has a strong capital position with a reported CET1 ratio of 17.7% at year-end 2019, after proposed profit distribution 2019.

NEWAYS 16 APRIL 2020

Announced in its Q1 trading update that net turnover came in at EUR 127.2 million, a 4.3% decline compared to Q1-19, due to low turnover in automotive.

• Order intake stood at EUR 118.6 million in the first quarter of 2020; a decline of 41.0% mainly due to the fall in demand from automotive clients.
• Order book amounted to EUR 282.7 million at end-March 2020, a 3.0% decline compared to yearend 2019.

Due to COVID-19, Neways expects turnover and results to be lower in the first half of 2020. Furthermore, the company is implementing a number of measures to deal with the impact of COVID-19 on the business.

NSI 16 APRIL 2020

Announced in its Q1 trading update it has strong solvency and liquidity considering the current economic environment.

• The commercial property investor reports that it collected 85% of invoiced rent payments in the month of April 2020 and has an overall vacancy rate of 7.4%.
• The EPRA EPS for Q1 is € 0.54, driven by like-for-like net rental growth of 9.9%

Due to the uncertainty surrounding the COVID-19 crisis, NSI has withdrawn its outlook for 2020.

ASML 15 APRIL 2020

Announced in its Q1 results that net sales came in at EUR 2.4 billion with net income at EUR 0.4 billion. Although the impact from COVID-19 on the business has been limited, the company said it will refrain from giving guidance on Q2 and the full year 2020 given the current risks and uncertainties.

TOMTOM 15 APRIL 2020

Announced revenue fell by 23% to EUR 131 million (Q1 '19: EUR 170 million) during the first quarter. The company said it experienced the most impact from COVID-19 on its Automotive and Consumer revenue and has experienced no material impact on Enterprise revenue.

• Automotive operational revenue decreased by 2% to EUR 85 million (Q1 '19: EUR 87 million)
• Location Technology revenue of EUR 91 million (Q1 '19: EUR 103 million)
• Free cash flow is an inflow of EUR 14 million (Q1 '19: outflow of EUR 20 million)
• Net cash is EUR 432 million (Q1 '19: EUR 241 million)
• TomTom had already withdrawn its full year guidance for 2020 at the end of March.

FAGRON 14 APRIL 2020

Announced turnover grew 16.4% (+19.2% at constant exchange rates) during the first quarter. The company has experienced little impact from the COVID-19 pandemic thus far, as it is currently fully operational in all active markets and has not experienced disruptions in the supply chain. However, the company remains uncertain of the overall impact from the COVID-19 pandemic on its business and is therefore taking measures to control costs and manage capital allocation.

POSTNL 14 APRIL 2020

Announced in its Q1 trading update that the company is fully operational and expects a limited impact from the COVID-19 pandemic on Q1 results.

• E-commerce driven parcel deliveries and consumer mail has increased since March, while bulk mail has declined significantly.

PostNL is moving forward with its 2020 outlook for normalised EBIT between EUR 110 million and EUR 130 million.

AIR FRANCE-KLM 9 APRIL 2020  

Announced that it has drastically reduced its flight activity, with the next few months expected to be less than 10% of last year’s level.

• The Group has initiated negotiations with governments on payment deferral for taxes (civil aviation, solidarity…), social contribution and various charges, as well as negotiations with lessors and airports of payment deferral.
• Implementing cost reduction measures, estimated at EUR500 million in 2020, an increase of EUR300 million than previously announced.
• Possible retirement of certain aircraft sub-fleets.
• It is reviewing to cut capex plan by EUR700 million in 2020, an increase of EUR350 million than previously announced.

The Group states that it is confident that it will be able to obtain additional financing to meet all its future financial obligations and enable it to ensure the recovery of its activity beyond the current crisis.

Additionally, the Group announced in its monthly traffic release that in March 2020, it experienced a -56.6% reduction of Group passenger activity, a -50.6% reduction in traffic, and a -20.5pts reduced load factor.

• For April and May 2020, the Group foresees over 90% of planned capacity to be suspended due to the globally imposed travel restrictions to counter the spread of the COVID-19.
• Beyond May 2020, the Group is currently unable to provide insight due to the high level of uncertainty over the duration of the crisis.

FASTNED 9 APRIL 2020  

Announced that its revenues related to charging increased by 102% compared to the first quarter of 2019.

• Prior to the impact from COVID-19, volumes in January and February were up 155% compared to last year.
• Early March COVID-19 measures caused a significant reduction in road traffic, having a considerable impact on March volumes.

JUST EAT TAKEAWAY.COM 9 APRIL 2020  

Announced in its Q1 trading update that orders in Q1 were up by 50%, and orders in Germany were up by 126%.

• The onset of COVID-19 resulted in a decline in orders in mid-March due to restaurant closures and a significant reduction of lunch and over-hours orders from offices. However, volumes have since recovered and the company expects a return to normal after the crisis.
• The company has a flexible cost base and the ability to draw under the revolving credit facility, which was extended from EUR60 million to EUR120 million at the end of January 2020.

PROSUS 8 APRIL 2020

Announced that it is too early to estimate the scope of impact from COVID-19, whether positive or negative, on the Group's operations and financial information.

• The size of the impact on operations will vary across sector and geography.
• The Group intends to continue to invest in its businesses, all of which have continuity plans, to position them for future recovery.

HEINEKEN 8 APRIL 2020

Announced that it expects a total consolidated volume decrease of around -4% organically with beer volume around -2%. The negative impact is expected to worsen in Q2 2020. Due to uncertainty surrounding the COVID-19 pandemic, it will withdraw its guidance for 2020.

• The company has a strong balance sheet as well as undrawn committed credit facilities and has successfully secured additional financing on the debt capital market in recent weeks.

The company will release its Q1 trading update on April 22, 2020.

KPN 8 APRIL 2020

Announced that it expects a limited impact from COVID-19 on its operational KPIs and financial results in the first quarter of 2020. The company states that it is too early to determine the impact of COVID-19 for the remainder of 2020.

• The company entered the current crisis with a strong balance sheet as well as undrawn committed credit facilities, resulting in a resilient balance sheet and a strong liquidity position

RELX 8 APRIL 2020  

Announced in its Q1 trading update that its Exhibitions business, which accounted for 16% of revenue and 13% of adjusted operating profit in 2019, has experienced significant negative impact from COVID-19, making the outlook for this business area highly uncertain. Therefore, the company will withdraw all guidance for 2020.

• The company has seen a slight increase in underlying revenue growth compared to the same period in 2019 for its largest business areas: Scientific, Technical & Medical, Risk & Business Analytics, and Legal. These areas have not been severely impacted by the COVID-19 pandemic.
• The group has a strong balance sheet position and states that its financing arrangements offers ample liquidity.

SBM OFFSHORE 8 APRIL 2020

Announced in a press release that activity and operations continue, with some incremental expenditure to keep operations running safely. Measures have been taken to postpone non-vital programs to reserve cash to help offset impacts from COVID-19.

• The company continues to have access to sufficient liquidity from its operating cash flow, committed project financing, revolving credit facility and cash balances.

An update on the status of the outlook and guidance for 2020 financials will be provided in its Q1 Trading Update on May 14, 2020.

AHOLD DELHAIZE 7 APRIL 2020  

Announced in its Q1 trading update that the company has seen higher than average sales growth in the months of February and March due to a spike in consumer shopping from the COVID-19 pandemic.

• It expects a net sales growth of approximately 15% in Q1, or 13% in constant currency. Comparable sales growth excluding gasoline is expected to be approximately 14% in the U.S., and 10% in Europe in Q1.
• It expects underlying operating margin in Q1 to be above the previous year. This is partly due to a timing effect and is not likely to be sustained in following quarters.

The company will maintain its full year outlook for 2020 and will release its Q1 results on May 7, 2020.

KENDRION 7 APRIL 2020  

Announced that it has experienced a negative impact on revenues and order take on its European and U.S. automotive business, as car manufacturers temporarily shut down production.

• Liquidity remains strong with around EUR 15 million cash and EUR 50 million undrawn committed facilities.
• The company intends to make use of relevant facilities or arrangements provided by the various governments and authorities to assist companies through the COVID-19 crisis, including deferred payment of taxes to further increase financial resilience.

The company will release its Q1 results on May 5, 2020.

FUGRO 6 APRIL 2020  

Announced that it has experienced some setbacks on projects due to increased travel restrictions and country lockdowns, which are impacting the business, particularly in the Europe-Africa region. The company states that it is implementing measures to ensure business continuity.

• The current liquidity is strong with over EUR 400 million in cash and available facilities.
• A cost and capex reduction programme is being implemented.
• Fugro withdraws earlier guidance for 2020.

OCI 6 APRIL 2020  

Announced in its investor update report that governments have deemed all OCI products as essential to ensure uninterrupted supply of food and other essential products. It has not experienced any production setbacks or disruptions from the challenges presented by COVID-19.

Supply chains and distribution channels continue to perform resiliently and are closely monitored by OCI’s taskforce.

NEDAP 2 APRIL 2020  

Announced in its Q1 2020 Trading Update that the COVID-19 pandemic will have a negative impact on Nedap’s revenue and profit. Currently, the company is unable to reliably estimate what the consequences will be for the individual business units’ revenue development.

• The company states that it currently has a sound cash position, partly due to the successful sale of Nedap France, as well as healthy credit facilities. Together with the current measures announced by the Dutch government, this is expected to guarantee the company’s continuity considering the impact from COVID-19.
• The company as withdrawn its previous forecasted revenue growth for 2020.

ALTICE 2 APRIL 2020  

Announced in its Annual Report 2019 that as of the date of issuance of the Consolidated Financial Statements, it is facing a low margin activity in the context of shop closures in many countries where the Group operates, some delays in the construction of FTTH homes passed in France and a decline in the advertising businesses (Teads and NextRadioTV). The Group states that the impact has been limited, since the crisis only began at the beginning of March 2020.

B&S GROUP  2 APRIL 2020

Announced that it has a solid balance sheet and sufficient credit facilities to cover its liquidity needs. The Group has implemented various measures related to working capital and cost control, concentrated on aligning net debt and EBITDA going forward, allowing the Group to keep operating within its covenants and providing head room once volumes pick up again and sourcing opportunities arise.

ADYEN 1 APRIL 2020  

Announced that it will publish a trading update on April 21st for the purpose of providing increased transparency into its underlying business during these unprecedented times.

APERAM 1 APRIL 2020  

Announced that the Board of Directors has decided to prudently defer the start of the share buyback program by 6 months to assess the severity and duration of the economic contraction, while keeping the announced dividends.

NN GROUP 31 March 2020  

Announced in its Annual Report 2019 that the COVID-19 pandemic is having a negative impact on the markets in which NN Bank is active – specifically on the mortgage market

and the wholesale funding market.

• NN Bank expects refinancing spreads in the wholesale markets to rise and arrears and defaults with our mortgage and consumer credit clients to increase from the currently low levels, which will likely impact the operating result of NN Bank in 2020.

NN Bank expects no significant difficulties in refinancing its funding positions and liquidity positions which are expected to remain above internal limits

AKZO NOBEL 31 MARCH 2020  

Announced that it has paused key parts of the company’s transformation and suspended its 2020 financial ambition in response to significant market disruption resulting from the COVID-19 pandemic. Once markets normalize, AkzoNobel intends to resume its positive momentum and drive performance in line with industry frontrunners.

• The company states that it currently has a strong balance sheet and solid cash position.

ARCELOR MITTAL 31 MARCH 2020  

Announced that it is either seeing or expecting to see a significant decline in industrial activity in many, if not all, of the geographic markets in which it operates. In response to the COVID-19 pandemic, it is reducing production and temporary idling steelmaking and finishing assets, adapted on a country by country basis in alignment with regional demand as well as government requirements.

• In order to mitigate the impact of the lower level of production, it will be accessing measures introduced by governments to support companies in the current climate.

FASTNED 31 MARCH 2020  

Announced in its Annual Report 2019 that the COVID-19 pandemic has resulted in a decrease of 70% in daily sales since mid-March, compared to February daily sales. Moreover, the company has faced delays in the construction of new stations and the upgrading of existing ones and expects delays in the delivery of electric vehicles to the market.

• Fastned had EUR19 million in cash and cash equivalents per year end 2019.
• The company cancelled part of its planned capital expenditures to be able to maintain an (increased) minimum cash buffer well into 2021, based on current projections.

NIBC 31 MARCH 2020  

Announced that, given its strong capital and liquidity position, NIBC has several measures in place to support clients affected by the COVID-19 virus.

• Mortgage clients affected by the COVID-19 virus can obtain a three-month deferral of interest and principal payments.
• The company will review corporate clients that are affected on a case by case basis.

PHILIPS 31 March 2020  

Announced that it will postpone its Capital Markets Day – which was scheduled to take place in London (UK) on May 13, 2020 – to the fourth quarter of 2020.

SHELL 31 MARCH 2020 

Announced in its first quarter outlook report that there is significant uncertainty with macro-economic conditions with regards to prices and demand for oil, gas and related products due to COVID-19. The impact of the dynamically evolving business environment on first quarter results has been primarily reflected in March with a relatively minor impact in the first two months.

• Shell’s liquidity remains strong. Reflecting the Shell Group’s prudent balance sheet policy and to enhance financial flexibility, Shell has a new $12 billion revolving credit facility commitment. This is in addition to the $10 billion credit facility signed in December 2019.
• Together with cash and cash equivalents of circa $20 billion, available liquidity will rise from $30 billion to more than $40 billion. In addition, the Shell Group has access to extensive commercial paper programmes.

TOMTOM 31 MARCH 2020  

Announced that it will withdraw its 2020 outlook, as the economic impact resulting from the COVID-19 pandemic on its financial results cannot be reliably assessed.

• As an additional precautionary measure, it has decided to suspend its share buyback program as of today, which started on 2 March 2020, until further notice.

ABN AMRO 30 MARCH 2020   

Announced that it expects the FY2020, and especially Q1 2020, cost of risk to be materially higher than the through-the-cycle cost of risk range of 25-30bps. Together with the incidental loss at ABN AMRO Clearing, the company expects a record loss in Q1 2020. 

ASML 30 MARCH 2020 

The company announced that it has decided not to execute any share buybacks in Q2 2020 due to the uncertainties regarding COVID-19. This decision follows the pause in the execution of the program in the first quarter, after having already performed share buybacks under the new program for an amount of approximately EUR507 million. 

• The company expects revenue in the first quarter to be 2.4 billion euros ($2.7 billion) to 2.5 billion euros, with a gross margin of 45% to 46%.
• The firm said it has not seen a reduction in the demand for its systems this year, while the novel coronavirus outbreak had limited impact on the company’s manufacturing capability. 

NEWAYS 30 MARCH 2020

Announced that it is taking measures aimed at safeguarding the continuity of its operations in the coming period. Such measures include:

• Limiting operating expenses;
• Using government funds and subsidies for the temporary reduction of working hours;
• Maximum reduction of the investment programme;
• Intensifying contacts with clients to prepare the supply chain as much as possible and respond as effectively as possible to disruptions in the chain;
• More stringent monitoring of working capital and in particular receivables and inventories.

Furthermore, Neways is unable to estimate the impact of the COVID-19 outbreak on its turnover and result for 2020.

PHARMING 30 MARCH 2020 

In its Annual Report 2019, the company states that there is no significant probability of adverse effects on revenue, costs or other activity from the current COVID-19 outbreak during the next 18 months.  

GALAPAGOS 28 MARCH 2020 

In its Annual Report 2019, the company states that it remains resilient despite severe pressure on share price brought on by the COVID-19 pandemic. The company reports that it has a business continuity plan in place for its non-clinical and clinical trials, including a pandemic response plan which entails pausing Phase 1 of clinical trials. Additionally, it has paused enrolment into the filgotinib trials. 

ACCSYS 27 MARCH 2020   

Announced on Friday that its liquidity remains strong despite the volatile financial market. The company reports that: 

• Following Accsys’ EUR46.3million capital raise in December 2019, the company’s balance sheet remains robust.
• The company’s key banking covenant includes ABN facilities which include a minimum EBITDA level for the Netherlands operating entity. The previous expected headroom relating to this covenant was in excess of EUR10m EBITDA and it therefore does not currently anticipate any issues in meeting this.
• The Group’s financial results for the year ending 31 March 2020 remain in-line with the Board’s previous expectations. 

FORFARMERS 27 MARCH 2020   

Reported that it will postpone the announcement of its strategy 2020-2025 and the relating Capital Markets Day (originally scheduled to take place on 12 May 2020) until after the publication of its half-year results (13 August 2020). The company also said that it has not experienced any material issues resulting from the impact of and the measures regarding COVID-19 in its core processes. 

ABN AMRO 27 MARCH 2020

Announced that it is extending support measures for businesses affected by COVID-19 to Commercial Banking clients with a credit facility with a principal and/or a limit of up to 50 million euros.

• Principal and interest payments will not be collected from these clients from April through September. They will be allowed to make these payments at a later date.
• Any client that does not need to defer payment is required to inform the bank by 31 March 2020 at the latest. Payment will not be deferred for these clients.

Furthermore, on 26 March, the company announced that due to the volatility in financial markets from COVID-19, ABN AMRO Clearing will incur a USD 250 million pretax incidental loss on one of its US clients. The net loss is approximately USD 200 million (EUR 183 million). 

A.S.R. 25 MARCH 2020

The company’s Annual Report 2019 states that at this point in time, a.s.r. is financially healthy and its capital position is solid. In recent weeks, a.s.r.’s Solvency II ratio proved resilient to absorb the extraordinary developments in the financial markets.

It is also notes that because of the current high volatility in the financial markets, the estimated Solvency II ratio may vary substantially from day to day. a.s.r.’s liquidity position of  EUR1.6 billion at year-end 2019 has also proven resilient. a.s.r. continues to monitor the potential IFRS impact relating to the valuation of financial instruments and valuation of technical provisions which are sensitive to developments in the (long-term) interest rates.

ADYEN 24 MARCH 2020

In its Annual Report 2019, the company states that the COVID-19 outbreak may result in shoppers and merchants postponing spending, which could have a material adverse impact on the demand for Adyen’s products and services, including a reduction in the volume and size of transactions on its payments platform. Although Adyen has taken measures it deems effective to ensure business as usual, such measures may not be sufficient to prevent disruptions.

ALTICE EUROPE 24 MARCH 2020

Announced yesterday that it is taking steps to respond to the known and currently anticipated impacts of the COVID-19 coronavirus outbreak on the business, customers and employees. 

Given the industry in which Altice Europe operates, the Group expects its cashflows to remain resilient throughout the crisis. Examples of the impacts observed within the Group so far include store closures, resulting in reduced sales and reduced churn, and reduced marketing expense. The Group continues to maintain fibre-roll out where possible.

SBM OFFSHORE 24 MARCH 2020

Announced that it has access to enough liquidity: both from its currently undrawn revolving credit facility, from committed project financing, as well as cash. The Company is on track to complete its earlier announced share repurchase program.

INTERTRUST 23 MARCH 2020

Announced that there has been no material adverse impact on revenues from COVID-19, nor on cash. Intertrust offices around the world have seen minimal disruption to date, operating under the business continuity plan and continuing to provide service as usual.

SHELL 23 MARCH 2020

Announced a series of initaitves to mitigate the impact from COVID-19 and free up around $8 - 9 billion in cash flow on a pre-tax basis. Among these initatives include:

• Reducing underlying operating costs by $3-4 billion per annum over the next 12 months compared to 2019 levels;
• reducing cash capital expenditure to $20 billion or below for 2020 from a planned level of around $25 billion;
• and material reductions in working capital.

GRANDVISION 20 MARCH 2020

The company reported that it estimates sales will be negatively affected by the continued spread of the virus. Consequently, due to decisions by local authorities, all of GrandVision’s stores are temporarily closed in a number of markets including Belgium, France, Italy, Poland and Spain. In most other markets the store networks remain fully or partially open, however sales are negatively impacted up to a high double-digit percent range.

• As of closing February 2020, GrandVision had a net debt position of EUR 750m with borrowings of EUR 894 and cash equivalents of EUR 154m million. In 2019 the Company renewed a Revolving Credit Facility (RCF) of EUR 1,200 million until 2024 provided by a total of 15 relationship banks. It contains 2 extension options of 1 year each.
• As of closing of February 2020, a total of EUR 385 million was drawn under the RCF with a further EUR509m obtained in short term flexible finance. GV has significant headroom in relation to its financial covenants and has started to draw from the RCF, adding considerable immediately available liquidity to the Company.

APERAM 19 MARCH 2020

Announced that it has temporarily paused production at some of its European production lines in response to COVID-19. Such measures are expected to take a few days to implement, depending on the operations.

The restart and the further output level will be adapted in line with future measures ordered by authorities, the related impact on its workforce and the production situation of its customers. All of its service centers continue to operate normally at the moment.

NSI 19 MARCH 2020

In an update published last week, the company addressed that the Dutch government has already announced measures to support SME and freelancers in the wake of the COVID-19 pandemic. The company states that if these prove insufficient, NSI will review potential further support of tenants on a case-by-case basis. Operationally the business has so far this year performed in line with budget, with an EPRA vacancy rate as per Wednesday 18 March of 7.0%.

• The liquidity position at the end of March will be even better in comparison with the end of 2019, with circa EUR280 million of cash and committed undrawn credit lines available for the business.
• As planned, subject to AGM approval, on 19 May NSI will pay the earlier communicated final dividend of EUR1.12 per share, offering shareholders the option to take the dividend in shares.

SHELL 18 MARCH 2020

The company announced that each operating site and office around the world has business continuity plans in place to sustain operations and supply chains. This includes supplying many countries with liquefied natural gas, as well as providing chemicals for essential industrial processes. To cope with the current climate, Shell has been:

• Increasing production of isopropyl alcohol, a key chemical ingredient of hand sanitiser
• Carrying out enhanced cleaning operations and increasing stocks of sanitation products and other essential goods.

Shells Nanhai joint venture chemicals production complex in Guangdong Province has been operating at full capacity to provide polypropylene and polyethylene, which, among other things, have been necessary for producing masks, packaging for disinfectants and other medical supplies.

AHOLD DELHAIZE 15 MARCH 2020

In a statement made last week, CEO Frans Muller said that it has implemented measures to prevent the spread of the virus by restricting travel and encouraging non-business critical work to be performed from home.

The company is taking measures to place all its focus on mission-critical activity by maintaining stock in its stores, distribution and fulfilment centers, and in-home delivery.

  DIVIDEND UPDATES | COVID-19

NIBC 18 MAY 2020

Announced that it has committed to pay its 2019 final dividend of EUR 0.53 before settlement of the offer by Flora Acquisitions B.V. in order to enable Flora Acquisitions to pay for the offer at EUR 9.32 per share.

ARCELOR MITTAL 7 MAY 2020

Announced it will suspend all dividend payments until the economic environment stabilizes.

VASTNED 6 MAY 2020

Announced that it will propose to reduce its final dividend for 2019 to EUR 1.43 and will cancel its interim dividend.

GRANDVISION 5 MAY 2020

Announced that it will not propose to distribute dividends at its AGM.

SHELL 30 APRIL 2020

Announced that it will reduce its quarterly dividend from USD 0.47 per share to USD 0.16 per share (representing approximately USD 10 billion), in a move to provide financial resilience and further flexibility to manage the uncertainty.

PHILIPS 30 APRIL 2020

Announced that it will plan an EGM to be held in the second half of June 2020, to submit a dividend proposal of EUR 0.85 per common share, distributable in shares only.

WDP 29 APRIL 2020

Announced that, as in prior years, it will offer shareholders an optional dividend

WERELDHAVE 24 APRIL 2020

Announced that it has cancelled its final dividend payment for 2019, as well as interim dividends. Instead, it will pay a final dividend for 2021.

ORDINA 23 APRIL 2020

Announced that it will withdraw its dividend proposal for 2019 due to the uncertainty surrounding COVID-19.

ICT GROUP 22 APRIL 2020

Announced that it will not distribute a dividend for 2019.

HEINEKEN 22 APRIL 2020

Announced it will not pay an interim dividend following its half year results in August 2020.

PHILIPS 20 APRIL 2020

Announced that the distribution of EUR 0.85 will be in shares only, instead of the currently proposed distribution in cash or in shares at the option of the shareholder. To that effect, Philips withdraws the dividend proposal that was already submitted to the Annual General Meeting of Shareholders to be held on April 30, 2020.

FAGRON 14 APRIL 2020

Announced that it will reduce its 2019 dividend proposal from EUR 0.15 to EUR 0.08 per share as a precautionary measure to conserve capital and manage cost flow in light of the uncertainty surrounding COVID-19.

KENDRION 7 APRIL 2020  

Announced that that it will withdraw its dividend proposal of EUR0.25 per share for 2019 as a precautionary measure in response to COVID-19.

On April 2, 2020 the Dutch Central Bank (DNB) released a statement urging insurers to suspend dividend payments and share buyback plans considering the current economic climate.

NN GROUP 6 APRIL 2020

Announced that it will take the advice of the EIOPA and the Dutch Central Bank (DNB) to suspend payment distribution of the 2019 dividend until further notice. Additionally, the EUR 250 million share buyback programme, which commenced on 2 March 2020, will be temporarily suspended.

A.S.R. 5 APRIL 2020

Announced that it will take the advice of the EIOPA and the Dutch Central Bank (DNB) to temporarily postpone any dividend payments and share buyback programs until the financial and economic impact over the COVID-19 outbreak becomes clear. Furthermore, it will also postpone the current share buyback program until further notice.

AEGON 3 APRIL 2020

Announced that it will take the advice of the Dutch Central Bank (DNB), and forego its 2019 final dividend of EUR 0.16 per common share. Taking into account the interim dividend paid in September 2019, this results in a total dividend for the financial year 2019 of EUR 0.15 per common share.

VAN LANSCHOT KEMPEN 3 APRIL 2020

Announced that it will take the advice of the European Central Bank (ECB) and De Nederlandsche Bank (DNB), and delay payment of the 2019 dividend until after 1 October 2020 at the earliest

B&S GROUP  2 APRIL 2020

Announced that it will withdraw its proposal for dividend payment of EUR0.09 per share for full year 2019.

BOSKALIS  2 APRIL 2020

Announced that it has decided not to schedule a dividend proposal over the financial year 2019 for the agenda of the Annual General Meeting of Shareholders (AGM) and to suspend its share buy-back program as of next week.

INTERTRUST 2 APRIL 2020

Announced that it has decided to cancel its 2019 dividend payment in order to retain financial flexibility.

NEDAP 2 APRIL 2020  

Announced that it will withdraw their resolution regarding the profit appropriation for the 2019 financial year and the dividend payable. Later in the year when there is more clarity about the company’s developments, an interim dividend will be considered, financial results permitting.

NN GROUP 31 MARCH 2020

Announced that no final dividend over 2019 will be proposed at its AGM, following the guidance received from DNB in view of the current climate from COVID-19.

The European Central Bank (ECB) published a press release on Friday, 27 March urging banks not to distribute dividends or accommodate share buy-backs until at least October. The Dutch Central Bank (DNB) strongly endorses the statement. 

BAM 31 MARCH 2020

Announced that it will withdraw the dividend proposal 2019 from the agenda for the Annual General Meeting of 15 April 2020.

NIBC 31 MARCH 2020  

Announced that it will follow the recommendations made by the European Central Bank to credit institutions under ECB supervision to conserve capital and refrain from making dividend payments and perform share buy-backs until at least 1 October 2020.

ABN AMRO 30 MARCH 2020   

Announced that it has decided to keep the initial proposal for distribution of the dividend for the financial year 2019 but make the actual payment conditional to the reassessment of the situation once the uncertainties caused by COVID 19 disappear (and, in any case, not before 1 October 2020). Additionally, ABN AMRO will not pay an interim dividend in August 2020. 

NEWAYS 30 MARCH 2020

Announced that it will withdraw its dividend proposal of EUR0.28 per share for 2019 as a precautionary measure in response to COVID-19.

ING 30 MARCH 2020   

Announced today that it will follow the recommendations made by the European Central Bank by suspending any payment of dividends on its ordinary shares until at least 1 October 2020. 

ALTICE 29 MARCH 2020   

It was reported that Altice will not pay a dividend to shareholders due to the COVID-19 pandemic. The company has not paid a dividend since it was incorporated. 

RABOBANK 29 MARCH 2020 

Announced that it has decided not to pay any distributions on its CET1 instrument, the Rabobank Certificates, on the upcoming scheduled payment dates of 29 March, 29 June and 29 September 2020. 

BRUNEL 27 MARCH 2020 

Announced that although the company’s current financial position remains strong, it has made the decision to cancel the proposed dividend for the financial year 2019 due to lack of visibility over the likely duration of the pandemic and the volatility in the markets.  

• If the situation normalizes in the second half of the year, and cash position remains sufficient, it will consider paying the dividend of EUR 0.30 per share as a special dividend in the second half of the year. 

SIGNIFY 27 MARCH 2020 

Announced that it will suspend its financial outlook for 2020. Additionally, Signify has decided to withdraw the proposal to pay a dividend of EUR 1.35 per share to ensure resilience during this period of market uncertainty. The company has also decided to postpone its Capital Markets Day that was scheduled to take place on June 18, 2020, in London.

ARCADIS 26 MARCH 2020

Announced that it has decided to stop the current share buy-back program and to withdraw the dividend proposal from the agenda for the Annual General Meeting as scheduled for May 6th, 2020 as a precautionary measure to contain costs and protect its cash position.

HEIJMANS 26 MARCH 2020

Announced that is has revised its decision to pay a dividend on the 2019 results. The company states that while the financial impact of the Covid-19 crisis is still limited for Heijmans at the moment, the outlook for 2020 in terms of revenue and results is extremely uncertain. The company therefore cannot provide an outlook for the remainder of the year.

UNIBAIL-RODAMCO-WESTFIELD 26 MARCH 2020

Announced that, in response to the impact by COVID-19, it will

• Withdraw its 2020 AREPS guidance and expects to provide an update on its guidance when it can reliably estimate the duration, severity, and consequences of the current situation
• To satisfy its REIT dividend distribution obligations, it will pay an interim cash dividend of EUR5.40 per share, as planned, on March 26, 2020 (ex-dividend date March 24, 2020). This payment will cover the Group’s distribution obligations for 2019; and
• Cancel payment of the final dividend of EUR5.40 per share.

ACCELL GROUP 25 MARCH 2020

Announced that it will withdraw the dividend proposal 2019 of EUR 0.30 per ordinary share and remove item 5.b from the Annual General Meeting agenda. The company states that the dividend withdrawal is part of a package of managerial measures taken to ensure business continuity for the coming period, in an effort to offset the anticipated negative impact of the COVID-19 outbreak on its net turnover and profit in the first half of 2020. Accell Group states that additional measures include:

• Scaling down bicycle production capacity by nearly 70%. So far, its Parts and Accessories business has not been affected.
• Drawing EUR50 mln under the existing accordion facility to its term loan (increasing it to EUR125 mln).
• Making full use of the various government relief measures in all relevant countries.

RANDSTAD 23 MARCH 2020

Announced that it has decided to remove its 2019 ordinary and special cash dividend proposals from the agenda of the Annual General Meeting of shareholders.

UNIBAIL-RODAMCO-WESTFIELD 23 MARCH 2020

Announced on Monday that it will withdraw its 2020 AREPS guidance and expects to provide an update on its guidance when it can reliably estimate the duration, severity, and consequences of the current situation regarding COVID-19.

• It will pay an interim cash dividend of EUR5.40 per share, as planned, on March 26, 2020 (ex-dividend date March 24, 2020). This payment will cover the Group’s distribution obligations for 2019.
• It has decided to cancel payment of the final dividend of EUR5.40 per share.

REMUNERATION UPDATES | COVID-19

PHARMING 20 MAY 2020

Announced that the proposals to alter its current remuneration policy were withdrawn at its AGM on May 20, 2020. Therefore, the current remuneration policy will remain in place.

AFC AJAX 12 MAY 2020

The football club announced that players, trainers and employees will take salary cuts

VASTNED 6 MAY 2020

Announced that the members of the Executive Board and Supervisory Board will have their remuneration reduced by 15% for the months of May, June and July.

EUROCOMMERCIAL PROPERTIES 6 MAY 2020

Reported that all members of the Management Board have reduced their base salaries by 20% from May for a period of three months. Additionally, their variable remuneration has been cancelled.

LUCAS BOLS 30 APRIL 2020

Reported that its Management Board and Leadership Team will waive their variable remuneration for the 2019/20 financial year and the first half of 2020/21.

SIGNIFY 24 APRIL 2020

Announced that its Supervisor Board and Leadership Team will take a 20% salary reduction for Q2 2020. Further, the company said that many employees voluntarily supported a 20% worktime reduction and pro-rata pay adjustment for a period of 3 months in an effort to reduce costs during the COVID-19 pandemic.

ACCELL GROUP 22 APRIL 2020

The Board of Management announced during its AGM that it will refrain from any form of regular variable compensation over the 2020 financial year. Further, CEO Ton Anbeek will refrain from the proposed increase of his short-term (cash) bonus as included in the revised remuneration policy.

HEINEKEN 22 APRIL 2020

Announced that it has cut 2020 bonuses for Senior Managers, including the Executive Board and the Executive Team.

KLM 18 APRIL 2020

Announced that the Supervisory Board and President & CEO have decided to withdraw an item proposing adjustment of executive remuneration from its AGM agenda. Due to the impact from COVID-19, no bonus will be paid for FY2020. Earlier, it was decided that no fixed salary increases will be paid to members of the board of managing directors for 2020. There will be no dividend pay-out either.

FAGRON 14 APRIL 2020

Announced that its non-executive members of the Board of Directors decided to waive 25% of their remuneration for 2020. The money will be used to support efforts to fight COVID-19.

FORFARMERS 14 APRIL 2020

Announced that it has withdrawn the proposal to change its remuneration policy from its AGM meeting, set to take place April 24, 2020.

AIR FRANCE-KLM 9 APRIL 2020  

Announced that its board members, Chair and CEO will take a reduction of their remuneration in solidarity with all employee groups.

BAM 8 APRIL 2020  

BAM Nuttall announced that it is furloughing approximately 300 employees and its senior management team have taken voluntary reductions in salaries.

UNIBAIL-RODAMCO-WESTFIELD 8 APRIL 2020

Announced that it has enforced partial activity measures in various countries to preserve employment where possible and allow a swift return to full capacity once the COVID-19 pandemic has passed.

• The Group CEO, Christophe Cuvillier, the Group CFO, Jaap Tonckens, and all members of the Group’s Senior Management Team will reduce their remuneration by -25% for the period during which the partial activity measures will be in place.
• Members of URW’s Supervisory Board have chosen to reduce their fees by -25%.
• All the senior executives of the Group’s US and European management committees have decided to reduce their fixed income by -20%.

The unpaid remuneration will be donated to support efforts to fight the COVID-19 crisis in all countries in which URW operates.

KENDRION 7 APRIL 2020  

Announced that the company has taken several precautionary measures to reduce costs and maintain liquidity, including enforcing short-term work in several of its European facilities and implementing a temporary salary reduction for Kendrion's management.

AALBERTS 2 APRIL 2020  

Announced that it is anticipating difficult conditions in the coming months due to the COVID-19 pandemic and has therefore decided to reduce the salary of the Management Board and Executive Team by 20% for three months, effective 1 April 2020.

Additionally, the company will:

• Reduce capital expenditure only to what is necessary to maintain operations.
• Align operations and shipments with its customer forecasts and expectations.
• Utilise government aid programs to manage expected short-term disruption.
• Accelerate structural improvements based on its updated strategy ‘focused acceleration’.

BAM 31 MARCH 2020

Announced that it is implementing a programme to reduce costs and capital expenditure, with the aim of realising significant cash savings. The focus is on stopping or delaying all non-business critical spend. Furthermore, the Executive Committee and Supervisory Board members have agreed to reduce their pay by 20% whilst this pandemic plays out.

BAM reported a strong cash position throughout 2019 and has a EUR400 million revolving credit facility. As a precautionary measure, the Group has drawn on this facility in full to increase flexibility, remain resilient and provide control over its own cash resources.

FINANCING UPDATES

SLIGRO 1 JULY 2020

Announced that its primary lending bank has allowed a relaxation of the covenants that had originally been agreed as a result of the negative impact from COVID-19. In addition, ample scope has been provided for liquidity to support operations and to meet repayment obligations in the autumn of 2020.

GRANDVISION 18 JUNE 2020

Announced it has obtained an Additional Liquidity Facility of EUR 400 million as well as an amendment to its existing 2019–2024 EUR 1,200 million Revolving Credit Facility (RCF).

ALFEN 16 JUNE 2020

Announced that it has increased its offering of 1,500,000 new ordinary shares to a total of 1,750,000 new ordinary shares, representing 8.75% of the Company’s issued share capital.  The company has raised a total of EUR51 million as a result.

ACCELL GROUP 12 JUNE 2020

Announced that it has agreed an additional two-year amortizing bank facility of EUR 115 million with its bank consortium under the Dutch GO-C scheme. EUR 60 will be drawn from this facility in 2020 and the remainder will be available until 1st of April 2021, serving as an extra financial buffer in the event of further implications from the coronavirus crisis.

ING 10 JUNE 2020

Announced that Cosabase, an open banking platform in which ING is the main shareholder, has welcomed Nordic bank Nordea and the French Crédit Agricole CIB as new investors and strategic partners, raising EUR 10 million.

BASIC-FIT 9 JUNE 2020

Announced it has successfully raised EUR 133.3 million through an accelerated bookbuild offering of 5,333,333 new ordinary shares, priced at EUR 25.00 per new ordinary share.

LUCAS BOLS 28 MAY 2020

Reported that it has engaged in discussions with its banks to arrange financing amendments that will temporarily allow covenants to be tested on EBIDTA and liquidity levels for 2020/21.

ALTICE EUROPE 19 MAY 2020

Announced that it has extended the maturity and repayment of its corporate financing facility until 2023. It reports that it will not have any major maturities before 2025, with the average maturity extended to 6.3 years.

NN GROUP 19 MAY 2020

Announced that its subsidiary NN Life, has completed three transactions to reduce longevity risk for a EUR 13.5 billion portfolio of pension liabilities which will strengthen their capital posit.

ARCELORMITTAL 18 MAY 2020

Announced that it has secured a loan of EUR 75 million from the European Investment Bank (EIB) to support two projects dedicated to reducing carbon emissions by converting waste and by-products into valuable new products, helping to develop low-carbon steelmaking technologies, in line with the EU’s climate objectives.

ARCELORMITTAL 12 MAY 2020

The steelmaker announced that it has priced USD 750 million in common shares and USD 1.25 billion in mandatory convertible bonds with a maturity rate of 3 years. Furthermore, the Mittal family participated in the offering with an order of USD 200 million.

AIR FRANCE-KLM 7 MAY 2020

Announced it is taking several cash preservation measures and will require additional liquidity in Q3 2020 considering a negative operational cash cost burn around 400 million euros per month in Q2 2020 and uncertainty for the rest of 2020. On May 6, the Group signed for EUR 7 billion in financing from the French government, which will provide further support in the coming period. Additionally, the Group reports that it is still in negotiations with the Dutch government to receive an additional loan.

EUROCOMMERCIAL PROPERTIES 6 MAY 2020

Announced that it has extended two long-term loans due to expire in July 2020, with principal amounts of EUR 50 million in Italy and EUR 45 million in Sweden. An additional EUR 60 million loan will expire in 2021.

ASML 28 APRIL 2020

Announced it has successfully placed a Eurobond offering of senior notes for EUR 750 million. The transaction is expected to be settled on May 7, 2020.

AIR FRANCE-KLM 24 APRIL 2020

Announced that it has secured a total of EUR 7 billion in funding from the French government to provide relief to the company as it has been severely impacted by the COVID-19 pandemic.

• EUR 4 billion of the loan is funded by a syndicate of six banks, guaranteed up to 90%, and has a maturity of 12 months, with two consecutive one-year extension options.
• EUR 3 billion from a direct shareholders loan from the French government, with a maturity of four years, with two consecutive one-year extension options.

The company said that discussions with the Dutch government to provide additional funding are still ongoing.

WDP 22 APRIL 2020

Announced it has received EUR 205 million in financing that will be allocated towards green standard certification projects in Romania. The loans will have a duration of up to nine years, will be structured as term loans and will be partially euro- and partially dollar denominated.

JUST EAT 23 APRIL 2020

Just Eat Takeaway.com announced that it has successfully placed 4.6 million new ordinary shares, representing approximately 3.2% of the Company’s issued share. It raised EUR 400 million in new shares and EUR300 million in convertible bonds, due April 2026.

The placement of these shares comes one day after the company announced an accelerated bookbuild for new shares and convertible bonds in an effort to maintain a competitive position and financial flexibility.

SLIGRO 23 APRIL 2020

Announced that it has negotiated a short-term increase in its working capital facilities with

its main bank.

BASIC-FIT 22 APRIL 2020

Reported that it arranged EUR40 million in additional financing and is currently making arrangements to obtain EUR60 million in government aid.

ICT GROUP 22 APRIL 2020

Announced that it is proactively reaching out to its financing banks regarding the extension of loans and postponement of redemption schedules.

HEINEKEN 22 APRIL 2020

Announced that it has successfully secured additional financing in recent weeks by issuing bonds. The company reports that it entered the COVID-19 crisis with a strong balance sheet and an undrawn committed revolving credit facility of EUR3.5 billion set to mature in 2024.

RANDSTAD 22 APRIL 2020

Announced that it has strong liquidity and will be making use of government aid.

WDP 22 APRIL 2020

Announced it has signed a debt financing package of approximately EUR110 million within the context of the 2019-23 growth plan.

ARCELOR MITTAL 16 APRIL 2020

Announced it has secured a credit facility of US$3bn to add to the company's financial flexibility. The new credit facility will have a maturity of 12 months and can be used for general corporate purposes.

BOSKALIS 14 APRIL 2020

Announced that it has refinanced its revolving credit facility (RCF) providing the company with EUR 500 million committed bank financing until April 2025. The new facility provides the option for a EUR 150 million increase, as well as two 1-year extension options

AGM SEASON | COVID-19

As of Friday, 3 April 2020, the Dutch Council of Ministers announced that it will enforce an emergency law that will allow publicly listed companies and associations to hold their AGM’s completely online via livestream due to the current COVID-19 crisis.

The legislation requires companies to allow shareholders the opportunity to submit questions prior to or during the meeting. Given the extraordinary circumstances, the emergency law also gives directors the option to temporarily postpone their AGM’s and financial statements to a later date.

POSTPONED AGMs

IMCD 19 MAY 2020

Announced that it has rescheduled its AGM to take place on June 30, 2020. The company states that it strongly encourages shareholders not to attend the meeting in person and exercise their right to vote via online proxy.

GRANDVISION 19 MAY 2020

Announced that it has rescheduled its AGM to take place virtually on June 30, 2020.

CORBION 18 MAY 2020

Announced that it has rescheduled its AGM to take place virtually on June 29, 2020. Shareholders can submit questions up to 72 hours prior to the meeting.

NEDAP 14 MAY 2020

Announced that it has rescheduled its AGM to take place virtually on June 25, 2020.

ARCELORMITTAL 13 MAY 2020

Announced that it has rescheduled its AGM to take place virtually on June 13, 2020. Shareholders can submit questions before June 6, 2020.

FLOWTRADERS 13 MAY 2020

Announced that it has rescheduled its AGM to take place virtually on June 24, 2020.

ICT GROUP 13 MAY 2020

Announced that it has rescheduled its AGM to take place virtually on June 24, 2020. Shareholders can submit questions in advance.

VIVORYON THERAPEUTICS 12 MAY 2020

The pharmaceutical developer announced that it has postponed its AGM which was set to take place on June 24, 2020 to half September.

TOMTOM  5 MAY 2020

The navigation technology provider announced its AGM will now be held virtually on 15 June 2020.

VASTNED 6 MAY 2020

Announced it has postponed it AGM to the 25 June, 2020.

FLOW TRADERS 21 APRIL 2020

Announced it would postpone its AGM to a date yet to be determined.

IMCD GROUP 7 APRIL 2020  

Announced that it will postpone its upcoming Annual General Meeting of Shareholders scheduled for May 7, 2020. Additionally, it will accelerate the publication of its Q1 trading update to April 20, 2020.

TOMTOM  7 APRIL 2020  

Announced that it will postpone its upcoming Annual General Meeting of Shareholders scheduled for April 15, 2020.

SLIGRO 3 APRIL 2020  

Announced that it will postpone its upcoming Annual General Meeting of Shareholders to 9 June 2020. The notice of meeting, agenda and related documents will be published no later than 28 April 2020 in accordance with the statutory notice period.

NEDAP 2 APRIL 2020  

Announced that it will postpone its upcoming Annual General Meeting of Shareholders to 25 June 2020.

ARCELOR MITTAL 31 MARCH 2020  

Announced that it will postpone its Annual General Meeting scheduled for the 5 May 2020 until further notice, due to the measures in the context of COVID-19.

KENDRION 30 MARCH 2020   

Announced that it will postpone its Annual General Meeting scheduled for the 6 April 2020 until further notice, due to the measures in the context of COVID-19. 

VASTNED 30 MARCH 2020   

Announced that it will postpone its Annual General Meeting scheduled for the 16 April 2020 until further notice, due to the measures in the context of COVID-19.

FLOW TRADERS 27 MARCH 2020  

Announced that it will postpone its Annual General Meeting scheduled for the 24 April 2020 until further notice, due to the measures in the context of COVID-19. The proposed final FY19 dividend of EUR0.55 will now take the form of an interim dividend which will be paid as per the previously announced timetable. As a result, a final dividend of EUR0 will be proposed at the rescheduled Annual General Meeting, resulting in a total dividend for FY19 of EUR0.90.

AALBERTS 26 MARCH 2020  

Announced that the AGM scheduled for 22 April 2020 is now postponed to 25 June 2020. According to the statutory notice period, the AGM agenda will be published on 14 May 2020.

CORBION 26 MARCH 2020  

Announced that it will postpone its upcoming Annual General Meeting of Shareholders to 29 June 2020 (the original date was 11 May 2020).

RANDSTAD 23 MARCH 2020  

Announced that it will postpone its Annual General Meeting on 24 March 2020. A new date for the meeting will be announced as soon as feasible.

GRANDVISION 20 MARCH 2020

Announced that it has decided to postpone its AGM to Tuesday 30 June 2020 in order to protect the wellbeing of its employees and shareholders.

BOSKALIS 18 MARCH 2020   

Announced that the AGM which was to be held on 13 May has been postponed to 30 June 2020. According to the statutory notice period, the AGM agenda will be published on 19 May 2020.  

ALTERNATIVE MEASURES

LUCAS BOLS 28 MAY 2020

Announced that it will hold its Annual General Shareholders Meeting on 9 July 2020. Due to circumstances surrounding the COVID-19 pandemic, the meeting will be held via a live audio-webcast.

AALBERTS 14 MAY 2020

Announced that it will hold its AGM on June 25, 2020 via webcast only. Shareholders can submit questions before June 22, 2020.

A.S.R. 7 MAY 2020

Announced it will hold its AGM, scheduled for Wednesday 20 May 2020, exclusively by electronic means. Shareholders can submit questions in advance.

ADYEN 1 MAY 2020

Announced shareholders will not be allowed to physically attend its Annual General Meeting of Shareholders on May 26, 2020. Shareholders can follow the meeting via webcast and are permitted to ask questions during the meeting.

AVANTIUM 29 APRIL 2020

Announced that shareholders will not be allowed to physically attend its Annual General Meeting of Shareholders on May 14, 2020. Shareholders can follow the meeting via webcast. Shareholders are permitted to submit questions by May 11, 2020.

BRUNEL 28 APRIL 2020

Announced that shareholders will not be allowed to physically attend its Annual General Meeting of Shareholders on May 14, 2020. Shareholders can follow the meeting via webcast. Shareholders are permitted to submit questions by May 11, 2020.

PHILIPS 28 APRIL 2020

Announced that shareholders will not be allowed to physically attend its Annual General Meeting of Shareholders on April 30, 2020. Shareholders can follow the meeting via webcast. Shareholders had the opportunity to submit questions prior to April 27, 2020.

SLIGRO 28 APRIL 2020

Announced that it will hold its Annual General Meeting of Shareholders on June 9, 2020 via webcast only due to circumstances caused by the COVID-19 outbreak.

SHELL 24 APRIL 2020

Announced that it has scheduled an additional engagement opportunity regarding its AGM to be held May 19, 2020. In light of the current situation surrounding the COVID-19 pandemic, the meeting will be held in a purely digital format.

WDP 20 APRIL 2020

Announced it will hold its AGM on 29 April 2020 and has invited shareholders to attend virtually.

AKZO NOBEL 17 APRIL 2020

Announced that it will hold its Annual General Meeting of Shareholders (AGM) on April 23, 2020 in a purely electronic form due to circumstances caused by the COVID-19 outbreak.

HEINEKEN 17 APRIL 2020

Announced that it will hold its Annual General Meeting of Shareholders (AGM) on April 23, 2020 in a purely electronic form due to circumstances caused by the COVID-19 outbreak.

AMG 20 APRIL 2020

Announced that it will proceed with its AGM on May 6, 2020 and has invited shareholders to attend virtually.

AEGON 17 APRIL 2020

Announced that it will hold its Annual General Meeting of Shareholders (AGM) on May 15, 2020 in a purely electronic form due to circumstances caused by the COVID-19 outbreak.

GALAPAGOS 16 APRIL

Announced that it has prohibited the physical presence of shareholders, proxyholders, holders of subscription rights or other persons otherwise entitled to attend the annual (ordinary) and extraordinary shareholders’ meetings scheduled for 28 April 2020 at 2:00 p.m. (CET). Shareholders are kindly invited and strongly encouraged to vote prior to the meetings, either by voting form or by proxy.

VAN LANSCHOT KEMPEN 16 APRIL 2020

Announced that it will hold its AGM on May 28, 2020. Due to the COVID-19 health risk, the company urges shareholders to follow the meeting remotely via webcast rather than attend in-person and exercise their right to vote electronically or via proxy.

ABN AMRO 15 APRIL 2020

Announced that it will proceed with its AGM on April 22, 2020. Due to the COVID-19 health risk, only a limited number of Executive Board and Supervisory Board members will attend the meeting in person. The company urges shareholders to exercise their voting rights through an electronic or written proxy.

NN GROUP 15 APRIL 2020

Announced that it will proceed with its AGM on May 28, 2020. Due to the COVID-19 health risk, the company urges shareholders to follow the meeting remotely via webcast rather than attend in-person and exercise their right to vote electronically or via proxy.

FAGRON 14 APRIL 2020

Announced that it will hold its AGM on May 11, 2020. Due to the COVID-19 health risk, the company urges shareholders to follow the meeting remotely via webcast rather than attend in-person and exercise their right to vote electronically or via proxy.

ING 10 APRIL 2020

Announced that it will proceed with its AGM on April 28, 2020. Due to the COVID-19 health risk, only a limited number of Executive Board and Supervisory Board members will attend the meeting in person. The company urges shareholders to exercise their voting right through an electronic or written proxy.

ACOMO 9 APRIL 2020  

Announced that due to the COVID-19 health risk, the company will hold its AGM on April 30, 2020 via live webinar only.  Voting will exclusively take place via proxy voting.

POST NL 9 APRIL 2020  

Announced that it will hold its AGM on April 14, 2020. Due to the COVID-19 health risk, the company urges shareholders to follow the meeting remotely via webcast rather than attend in-person and exercise their right to vote electronically or via proxy.

A.S.R. 8 APRIL 2020

Announced that it will hold its AGM on May 20, 2020. Due to the COVID-19 health risk, the company urges shareholders to follow the meeting remotely via webcast rather than attend in-person and exercise their right to vote electronically or via proxy.

PHARMING 8 APRIL 2020  

Announced that it will hold its AGM on May 20, 2020. Due to the COVID-19 health risk, the company urges shareholders to follow the meeting remotely via webcast rather than attend in-person and exercise their right to vote electronically or via proxy.

WERELDHAVE 7 APRIL 2020  

Announced that it will proceed with its AGM on April 24, 2020. Due to the COVID-19 health risk, the company urges shareholders to follow the meeting remotely via webcast rather than attend in-person and exercise their right to vote electronically or via proxy.  If a shareholder wishes to attend in person, they must submit a written request by April 21, stating why physical attendance is necessary.

ASM 6 APRIL 2020

Announced that it will proceed with its AGM on May 18, 2020. Due to the COVID-19 health risk, the company urges shareholders to follow the meeting remotely via webcast rather than attend in-person and exercise their right to vote electronically or via proxy. 

AEGON 3 APRIL 2020

Announced that it will proceed with its AGM on May 15, 2020. Due to the COVID-19 health risk, the company urges shareholders to follow the meeting remotely via webcast rather than attend in-person and exercise their right to vote electronically or via proxy. 

APERAM 3 APRIL 2020

Announced that it will hold this year’s General Meetings without a physical presence, as permitted by Luxembourg law. Shareholders may exercise their right to vote electronically or by proxy voting.

VOPAK  3 APRIL 2020

Announced that it will proceed with its AGM on April 21, 2020. Due to the COVID-19 health risk, the company urges shareholders to follow the meeting remotely via webcast rather than attend in-person and exercise their right to vote electronically or via proxy.

AVANTIUM 2 APRIL 2020

Announced that it will proceed with its AGM on May 14, 2020. Due to the COVID-19 health risk, the company urges shareholders to exercise their voting right through an electronic or written proxy and not to attend in-person. If a shareholder wishes to attend in person, they must submit a written request by May 7, stating why physical attendance is necessary.

B&S GROUP  2 APRIL 2020

Announced that it will proceed with its AGM on May 19, 2020. Due to the COVID-19 health risk, the company urges shareholders to exercise their voting right through an electronic or written proxy and not to attend in-person.

EURONEXT 2 APRIL 2020

Announced that it will proceed with its AGM on May 14, 2020. Due to the COVID-19 health risk, the company urges shareholders to exercise their voting right through an electronic or written proxy and not to attend in-person.

INTERTRUST 2 APRIL 2020

Announced that it will proceed with its AGM on May 14, 2020. Due to the COVID-19 health risk, the company urges shareholders to exercise their voting right through an electronic or written proxy and not to attend in-person.

JUST EAT TAKEAWAY.COM 2 APRIL 2020

Announced in a convocation notice that it will hold its AGM on May 14, 2020. Due to the COVID-19 health risk, the company urges shareholders to exercise their voting right through an electronic or written proxy and not to attend in-person.

KPN 2 APRIL 2020

Announced that it will proceed with its AGM on April 15, 2020. Due to the COVID-19 health risk, the company urges shareholders to exercise their voting right through an electronic or written proxy and not to attend in-person.

BRUNEL 1 APRIL 2020  

Announced that it will proceed with its AGM on May 14, 2020. Due to the COVID-19 health risk, the company urges shareholders to exercise their voting right through an electronic or written proxy and not to attend in-person.

SIF GROUP 1 APRIL 2020  

Announced that it will proceed with its AGM on May 14, 2020. Due to the COVID-19 health risk, the company urges shareholders to exercise their voting right through an electronic or written proxy and not to attend in-person.

WOLTERS KLUWER 1 APRIL 2020

Announced that it will proceed with its AGM on April 23, 2020. Due to the COVID-19 health risk, the company urges shareholders to exercise their voting right through an electronic or written proxy and not to attend in-person.

ING 31 MARCH 2020  

Announced that it will hold its AGM on April 28, 2020. Due to the COVID-19 health risk, the company urges shareholders to exercise their voting right through an electronic or written proxy and not to attend in-person.

AHOLD DELHAIZE 30 MARCH 2020   

Announced that it will hold its Annual General Meeting of Shareholders (AGM) on April 8 2020. Due to the COVID-19 health risk, the company urges shareholders not to attend the AGM in-person and to vote in advance of the meeting. 

NEWAYS 30 MARCH 2020

Announced that it will move forward with its AGM, set to take place on 16 April. The company explicitly requests shareholders to attend the General Meeting of Shareholders via live webcast.

GALAPAGOS 28 MARCH 2020   

Announced that it will move forward with its AGM, set to take place on Tuesday, 28 April 2020. The company states that it strongly encourages shareholders not to attend the meetings in person and exercise their right to vote remotely or via written proxy. 

FORFARMERS 27 MARCH 2020   

Announced that it will permit very few members of the Supervisory Board and the Executive Board to physically attend the AGM, besides the notary and the independent proxy holder for the shareholders. It still scheduled to take place on 24 April. 

WDP 27 MARCH 2020   

Announced that it will move forward with its AGM, set to take place on  April 29, 2020. The company states that it strongly encourages shareholders not to attend the meetings in person and exercise their right to vote remotely or via written proxy. 

TKH GROUP 26 MARCH 2020  

Announced that in view of the COVID-19 outbreak and in order to avoid health risks, it has made the unusual request to its holders of depositary receipts and of shares not to attend the Annual General Meeting in person. Instead, it is making an urgent request that shareholders exercise voting rights by written proxy or online.

In order to mitigate risk and avoid the spreading of the virus, many organizations are implementing hybrid meetings to hold their AGMs by allowing members to attend virtually via live stream, while voting online. Among these companies include Arcadis, Ahold Delhaize, AkzoNobel, IMCD, ING, KPN, Signify and Philips.

ABN AMRO, ASML and Unilever announced in early March that they are offering shareholders the ability to submit questions online.  

HEINEKEN announced on March 23 that it has extended the electronic voting and proxy voting deadline and is encouraging shareholders attend the AGM online. Meanwhile, SBM Offshore. announced on March 24 that the AGM will be held entirely online and will not permit any shareholders or visitors to attend the meeting in person.

 OTHER ACTIONS | COVID-19

PHILIPS 18 JUNE 2020

Announced a collaboration with American Telemedicine Association (ATA) to drive telehealth adoptions beyond hospitals and provide further technology for in-home usage.

“Our alignment with ATA will help promote strong  growth and faster adoption of telehealth and policy changes escalated during the COVID crisis as we pivot to innovate ‘virtual first’ strategies to support hospitals, payers, and patients across care settings, including digital health technologies to support healthy living in the home.” said Roy Jakobs Chief Business Leader Connected Care and member of the Executive Committee at Royal Philips.

DSGC

Over 220 Dutch companies have joined a coalition to make sustainability a focus on the COVID-19 recovery plan. Such companies include:

ABN Amro, Aegon, AkzoNobel, Ahold Delhaize, Corbion, DSM, Heineken, ING, KLM, KPN, NIBC, NN Group, Philips, Shell, Signify and Unilever.

RANDSTAD 17 JUNE 2020

Published a report revealing that 64% of employees say that they fear losing their jobs because of the COVID-19 pandemic.

SIGNIFY 16 JUNE 2020

Announced that its UV-C light sources can reduce, and even inactivate, the COVID-19 virus in the air and on surfaces. The study was conducted in partnership with the National Emerging Infectious Diseases Laboratories (NEIDL) at Boston University in the US to determine the effectiveness of Signify’s UV-C light sources on SARS-CoV-2, the virus that causes COVID-19  “Our test results show that above a specific dose of UV-C radiation, viruses were completely inactivated: in a matter of seconds we could no longer detect any virus,” said Dr. Anthony Griffiths. “We’re very excited about these findings and hope that this will accelerate the development of products that can help limit the spread of COVID-19.”

PHILIPS 12 JUNE 2020

Announced the release of the Avalon CL Fetal and Maternal Pod and Patch, an addition to the Remote Patient Monitoring suite, designed to reduce mother and clinician risk of exposure to COVID-19 in hospitals and at home.

ADYEN 10 JUNE 2020

Announced that Australian fashion retailer, Incu, has experienced pre-COVID sales levels following the implementation of Ayden Pay by Link technology to reach customer markets which had been shut off by the COVID-19 lockdown.

BASIC-FIT 8 JUNE 2020

Announced that as of June 8, it will begin reopening clubs in Spain and Belgium. To date, Basic-Fit has reopened 520 out of 828 clubs.

AKZONOBEL 4 JUNE 2020

Announced the testing of a wearable prototype device designed to help employees follow social distancing guidelines at work sites. The device, which will be commercialized under the name ‘SafeDistance’, activates an audible and vibrating alarm when two wearers approach each other and fail to respect the minimum safe distance.

ING 4 JUNE 2020

Announced that it has joined UNICEF’s to raise funds for their efforts to help children and vulnerable groups across 155 countries affected by the coronavirus. ING aims to raise EUR 1 million, which it will then match.

AIR FRANCE-KLM 2 JUNE 2020

KLM announced it will expand its destination routes from July 2020, which should result in a 60% increase in operating flights compared to June 2020.

PHILIPS 2 JUNE 2020

Announced the FDA has authorized its new acute care patient monitoring solution for emergency use on COVID-19 patients in the United States. The product offers real-time monitoring of a patient’s vital signs for bedside and remote monitoring in hospitals.

ADYEN 2 JUNE 2020

The payment platform company announced that it has partnered with the Rijksmuseum to facilitate a wholly cashless payment system in preparation for the museum’s reopening. The move will also reduce the necessity of physical proximity for museum staff and visitors.

PHILIPS 26 MAY 2020

Announced the launch of a wearable biosensor designed to enhance patient surveillance and identify early deterioration in patients to help medical professionals intervene early. The biosensor will be used to monitor hospital patients with COVID-19.

UNIBAIL-RODAMCO-WESTFIELD 26 MAY 2020

Announced that its senior executives have committed to reduce their compensation while operations are being partially reduces, and it will donate the amounts remitted to several charities in France.

ING 19 MAY 2020

Announced that it is partnering with French bond issuer Caisse Francaise de Financement Local (CAFFIL) in a EUR 1 billion bond to raise financing for public hospitals in France.

AIR FRANCE18 MAY 2020

Air France announced that it will gradually increase its flight schedule between now and the end of June, as lockdowns and travel restrictions begin to ease.

UNILEVER 14 MAY 2020

Announced that it has partnered with Uber to provide hygiene kits for drivers and couriers in the UK in the coming weeks.

“As people begin to venture out, we must collectively ensure that health and safety remains the absolute priority. We’re pleased that by partnering with Uber and providing our trusted hygiene products, Unilever is able to help keep drivers, couriers and riders as safe as possible,” said CEO Alan Jope.

WERELDHAVE 14 MAY 2020

Announced that it has reopened its centers in Belgium and France. Locations in the Netherlands have remained open over the last months.

WOLTERS KLUWER 13 MAY 2020

The information services company has launched a solution tool to provide help banks and credit unions support small businesses with payroll funding during the COVID-19 crisis.

ARCADIS 7 MAY 2020

Published a report addressing the problems its clients are facing from the COVID-19 pandemic. The report offers possible solutions, including the integration of digitization to ensure successful business continuity into the future.

DSM 7 MAY 2020

Announced it has begun manufacturing nose swabs for COVID-19 test kits in the Netherlands, following a request from the Dutch government. DSM said it will produce 2.8 million swabs - enough to meet the entire countries testing needs for the next three months.

ADYEN 5 MAY 2020

Announced it has partnered with the United Nations Foundation to route donations via Adyen Giving - a donation function that is built into its POS and Checkout integrations - to the COVID-19 Solidarity Response Fund for the World Health Organization.

PHILIPS 1 MAY 2020

Philips Foundation announced that it has delivered two mobile isolation care units to the Italian Red Cross in Sardinia and Lombardy for patients affected by COVID-19.

UNIBAIL-RODAMCO-WESTFIELD 29 APRIL 2020

Announced a partnership with Bureau Veritas to label its shopping centres for Hygiene, Safety and Environment. The initiative will update Hygiene, Safety and Environment beyond the current framework of the COVID-19 epidemic.

WDP 29 APRIL 2020

Announced it will be supporting a number of local initiatives in markets around the world for its #InThisTogether campaign. The Board of Directors as well as the two CEOs will contribute 15% of their remuneration from Q2 2020 for this support campaign. Part of the proceeds will also go to employees facing financial hardship from COVID-19.

DSM 28 APRIL 2020

Announced that a Dutch consortium of AFPRO Filters, Royal Auping, and Royal DSM has begun large-scale production of medical FFP2 facemasks in the Netherlands which will meet approximately 25% of the acute need for medical masks in the Netherlands.

WOLTERS KLUWER 28 APRIL 2020

Announced it will provide virtual conference alternatives for medical societies amid cancellations of annual meetings due to the COVID-19 pandemic.

FORFARMERS 24 APRIL 2020

Announced measures the company is taking regarding feed orders, feed delivery, company visits and the collection of bagged goods in response to the Dutch governments update on the COVID-19 pandemic. Additionally, the company announced that it has cancelled all events until September 1.

PHILIPS 23 APRIL 2020

Announced that its Emergency Care and Resuscitation (ECR) business has resumed manufacturing and shipping of external defibrillators for the US, following notification from the US Food and Drug Administration (FDA) that the injunction prohibiting those activities has been lifted.

UNILEVER 23 APRIL 2020

Announced it is making EUR 500million in cash flow relief available for its most vulnerable small and medium sized suppliers and small-scale retail customers whose business relies on Unilever.

BAM 22 APRIL 2020

Announced the opening of the NHS Nightingale Hospital Yorkshire and the Humber, which will provide around 500 beds for COVID-19 patients. The facility, which was built in just under three weeks, is the first of 7 constructed facilities to free up space in hospitals.

HEINEKEN 22 APRIL 2020

Announced that the de Carvalho-Heineken family together with their holding company have donated EUR10 million to eight charities supporting the COVID-19 relief efforts, four in the Netherlands and four international charities.

FLOW TRADERS 21 APRIL 2020

Announced that it has accelerated the availability of its annual personal charitable budget and donated €2.5 million to a select number of charitable foundations around the world, including Erasmus MC, Voedselbank, VentilatorPAL, The Courage Fund, The Community Chest and Mount Sinai. Additionally, it will establish the Flow Traders Foundation with the aim of promoting and funding health and wellbeing charities globally on a significant, structured annual basis.

PHARMING 21 APRIL 2020

Announced that it has observed encouraging results from five confirmed COVID-19 patients hospitalised with related severe pneumonia that were treated with RUCONEST® (recombinant human C1 inhibitor) under a compassionate use program at the University Hospital Basel, Switzerland. An investigator-initiated, multinational clinical trial of 150 confirmed COVID-19 patients will be planned to continue into the next phase of testing.

NASPERS 20 APRIL 2020

Announced it has delivered the first shipment of personal protective equipment (PPE) in South Africa, following the company’s commitment of R 1,5 billion (EUR73 million) in emergency aid to the country.

Furthermore, the company will donate R 500 million (EUR24 million) to the Solidarity Response Fund and is procuring R 1 billion (EUR50 million) worth of PPE and other medical supplies through its partnerships with Tencent and the Chinese government.

ICT 15 APRIL 2020

Announced that it is providing free portable home monitoring systems for high-risk pregnant women. The product, Sense4Baby, can be used for women:

• Who have been infected with the COVID-19.
• Who have someone in their immediate environment who has been infected with the virus.
• Whose health falls in the high-risk category.

UNIBAIL-RODAMCO-WESTFIELD 16 APRIL 2020

Announced a series of initiatives launched throughout Central and Eastern Europe to provide support to local communities, NGO’s and local authorities.

RANDSTAD 16 APRIL 2020

Announced that the HR service industry has formed an alliance spearheaded by Randstad NV, the Adecco Group and ManpowerGroup to enable companies and workers to return to work safely when the time is right.

PHILIPS 15 APRIL 2020

Announced the launch of an online portal that allows Dutch hospitals to seamlessly share COVID-19 patient information with one another. The platform was created in cooperation with Erasmus Medical Center (Rotterdam, The Netherlands), Jeroen Bosch Hospital (‘s-Hertogenbosch, the Netherlands) and the Netherlands Ministry of Health, Welfare and Sport (VWS).

• Since its launch on March 28, 95% of Dutch hospitals have already been connected to the portal for digital exchange of COVID-19 patient data.

ASML 15 APRIL 2020

Announced that it intends to declare a total dividend for 2019 of EUR 2.40 per ordinary share and a final dividend payment of EUR 1.35 per ordinary share, as will be proposed to shareholders at the Annual General Meeting (AGM) scheduled for April 22, 2020.

FAGRON 14 APRIL 2020

Announced that it has been granted permission by the Belgian authorities to produce hydroxychloroquine and chloroquine compounds and paracetamol drinks for Belgian hospitals in need of these products; it is providing this service at a minimal fee to cover the cost of the materials used and the transportation.

PHILIPS 14 APRIL 2020

Announced an update on its plans to double the production of its hospital ventilators by May 2020 and achieve a four-fold increase by Q3 of 2020.

PROSUS 10 APRIL 2020

Announced that it has committed ₹100 crore (US$13.1 million) to the Indian government’s response to the Covid-19 crisis. The donation will be made to the ‘Prime Minister’s Citizen Assistance and Relief in Emergency Situations Fund’ (PM CARES Fund) created by Prime Minister Narendra Modi.

Donations received by the PM CARES Fund are used to alleviate directly the suffering of those affected by the Covid-19 crisis and to aid the emergency response (as well as promoting new technology and advancing research findings for resilience against similar situations in the future).

JUST EAT TAKEAWAY.COM 9 APRIL 2020

Announced that it has started several local initiatives to support organisations during the pandemic, including an initiative to grant more than EUR4 million in free meals to emergency hospital staff across Europe.

ING 9 APRIL 2020

Announced a series of charitable initiatives launched across a number of markets, including the Netherlands, Italy, Spain, Belgium, Romania, Czech Republic, the UK and Turkey. These initiatives range from fundraising campaigns to the donation of supplies and IT equipment.  

PHILIPS and AIR FRANCE-KLM 9 APRIL 2020

Announced it has partnered with KLM and the Dutch government to create a temporary special cargo airlift, made up of critical medical equipment and supplies, between the Netherlands and China. In addition to these parties, requests for extra capacity are coming in from many other organizations. The airlift to Asia will start on April 13, 2020.

UNIBAIL-RODAMCO-WESTFIELD 9 APRIL 2020

Announced it has initiated a series of community and philanthropic actions, dedicating resources, assets and connections to address the challenges faced by vulnerable populations in the communities it operates in. In the US, URW is supporting nearly 100 NGOs, non-profits, and community organisations.

UNILEVER 9 APRIL 2020

Announced it is teaming up with businesses in the aerospace, automotive and medical sectors in a consortium which has received formal orders from the government to make in excess of 10,000 ventilators for use in UK hospitals.

PHILIPS 8 APRIL 2020

Announced that it will partner with the U.S. Government to double the production of hospital ventilators, which are critical for COVID-19 patients, in its U.S. based manufacturing sites. Philips plans to achieve a four-fold increase by the third quarter of 2020 for supply to the U.S. and global markets.

BAM 8 APRIL 2020  

Announced that construction teams are working around the clock to build the new NHS Nightingale hospital in Harrogate. The group is also supporting other such schemes at multiple locations around the UK and rapidly completing coronavirus wards at several existing hospitals around the country.

HEINEKEN 8 APRIL 2020

Announced that it is deploying a series of initiatives to support stakeholders and communities during the COVID-19 pandemic, including the donation of EUR 15 million to support the International Federation of Red Cross and Red Crescent Societies (IFRC) relief efforts for the most vulnerable people affected by Covid-19, specifically in Africa, Asia and Latin America. 

PROSUS 8 APRIL 2020 

Announced that its parent company, Naspers, is contributing ZAR1.5 billion (US$82 million) in emergency aid to the South African government’s response to COVID-19.

Additionally, it has implemented several initiatives to support local communities and the wellbeing of its employees, customers and businesses across all of its markets.

AHOLD DELHAIZE 7 APRIL 2020

Announced that, together with its local brands in the US, Europe and Indonesia, it has deployed over EUR170 million toward COVID-19 relief and support efforts so far. These efforts range from health and safety measures for associates and customers, to enhanced benefits for frontline associates, to charitable donations that support local communities.

ASM 6 APRIL 2020

Announced that it will propose to declare a regular dividend of EUR1.50 (one Euro fifty cents) per common share and an extraordinary dividend of EUR1.50 (one Euro fifty cents) per common share at its AGM on May 18. 

WOLTERS KLUWER 3 APRIL 2020

Announced that it will provide complimentary updates and resources on its website for clinicians, nurses and medical researchers, in response to new developments, evidence and guidance on the COVID-19 crisis.

BAM 2 APRIL 2020

Announced that Interflow and Gortemaker Algra Feenstra architects have developed a concept for temporary IC units to contribute to the expansion of the number of available intensive care beds.

UNILEVER 2 APRIL 2020

Announced the launch of a global COVID-19 handwashing campaign set to target a billion people worldwide. The campaign will be made in collaboration with the UK government’s Department for International Development.

NIBC 1 APRIL 2020  

Announced that it has donated 60 Microsoft Surface laptops to Jan Ligthartschool in The Hague. The donated laptops will help children work on their studies from home in the wake of the coronavirus pandemic.

PHILIPS 1 APRIL 2020  

Announced that it can help general practitioners and healthcare institutions manage the increased patient flows resulting from the COVID-19 outbreak through a dedicated and scalable telehealth solution that facilitates the use of online screening, follow-up questionnaires and monitoring, and external call center collaborations.

AHOLD DELHAIZE 31 MARCH 2020  

Ahold Delhaize USA announced the donation of a $10M relief package to meet community needs amid the coronavirus crisis.

KPN 30 MARCH 2020  

Announced that it is taking the following measures in response to the COVID-19 pandemic to best accommodate businesses and customers:

Until April 15:

• KPN is making free conference numbers available to homeworkers in the Netherlands.
• KPN will not charge for any mobile calls made by large business customers and by KPN EEN customers to Dutch numbers that fall outside of their usual subscriptions (with the exception of 0800/0900 numbers).

Until April 13:

• KPN is making the following channels available free of charge to iTV customers:
  • The movie channels Film1 Première (channel 245), Film1 Action (channel 246), Film1 Family (channel 247) and Film1 Drama (channel 248)
  • The kids’ channels Nick Toons (channel 52), Nick Jr. (channel 53) and Nick Music (channel 54)

The channels Comedy Central Extra (channel 71) and 192 TV (channel 113

Furthermore, as the schools are closed, KPN is temporarily providing 1,000 4G WIFI routers for children to do their schoolwork at home. Additionally, Helpdigitaal connects care homes with IT organizations, enabling residents to connect with their loved ones via tablets. KPN is supplying SIM cards with data for the internet connection.

ARCELOR MITTAL 31 MARCH 2020  

Announced it has applied the 3D printing expertise of its R&D team to a global effort focussed on developing a 3D printed ventilator prototype.

Additionally, the company is working with associates in China to help bring medical equipment to the countries now facing an escalation and particularly those, such as India and Liberia, that will struggle to source adequate supplies.

BAM 30 MARCH 2020  

Announced that it will be resuming work today at a number of sites across the UK, including existing projects critical to the national Covid-19 effort.  

The company is also beginning work on new projects to build emergency Covid-19 wards. 

PHILIPS 27 MARCH 2020  

The Philips Foundation, a registered charity and platform for the worldwide societal activities of Royal Philips, announced practical initiatives and financial aid to support Italy’s national Civil Protection organization and Cesvi, one of Italy’s biggest humanitarian organizations, to help frontline healthcare workers and their patients during the COVID-19 crisis. 

DSM  26 MARCH 2020

Announced that DSM teams are distributing immunity-boosting vitamins and nutrients to first responders and health care professionals. The company has also converted a manufacturing facility to produce disinfectant at scale, which is being donated to nearby hospitals. 

UNILEVER 23 MARCH 2020

Announced that it will contribute EUR100m through donations of soap, sanitiser, bleach and food. This includes:

Furthermore, Unilever will offer EUR500m of cash flow relief to support livelihoods across its extended value chain, through:

RELX 20 MARCH 2020

RELX announced that it is sharing free insights and resources in each of our market segments to support our people, our customers and society.

• Elsevier, a global information analytics business specialising in science and health, has created a Novel Coronavirus Center with the latest medical and scientific information on COVID-19 for healthcare professionals, medical researchers and the public.
• LexisNexis Legal & Professional launched free and comprehensive legal news coverage and practical guidance content to help legal professionals, lawmakers and business leaders become better informed and navigate the legal issues and intricacies surrounding COVID-19.
• Cirium, which brings together aviation and air travel data and analytics, has created a data visualisation on the impact of the virus on the aviation industry.