The Björn Borg Group is affected by the corona virus – withdraws proposal for shareholder dividends

The outbreak of the Corona virus has led to significant changes in the world around us and affects the Björn Borg Group negatively. The extent of the impact is currently not possible to estimate, but the outbreak may have substantial negative financial impact on the Björn Borg Group’s business.

In particular, Björn Borg notes that the general development and/or decisions of the authorities in the countries in which the company conducts its business, among other things lead to, or may lead to, reduced demand on the retail market, potential disturbance in the distribution chain, unfavourable currency impact and closed stores with reduced sales as a result. Such effects will likely occur already in the end of the first quarter 2020 and increase during the second quarter 2020.

Given the uncertainty that the outbreak has caused, the board of directors of Björn Borg AB today, at an extraordinary board meeting, decided to withdraw its previous proposal that the annual general meeting 2020 decides upon dividend distribution with 1,5 SEK per share. The board proposes instead that the annual general meeting decides that no dividends shall be paid out for 2019.   

Björn Borg undertakes continuous activities to reduce costs and minimize the negative impact of the outbreak on the business, including preparing for short-term layoffs etc. Björn Borg will announce further updates when possible, no later than in conjunction with the first quarterly report for 2020, which will be published on May 14, 2020.

 

This information is information that Björn Borg AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out below, at 8:30 pm CET on March 20, 2020.

 

For further information, please contact
Henrik Bunge, CEO
henrik.bunge@bjornborg.com
Tel: +46 85 06 337 00

 

Heiner Olbrich, Chairman of the Board

Email: heiner.olbrich@bjornborg.com

Tel: +49 171 339 11 91

Tags & categories

The goal is to become a better version of yourself.

#bjornborg #TrainToLive
A smooth sensation. Our Studio Collection features silky-smooth, colourful and flattering pieces that fit perfectly together.
Get yours at bjornborg.com.

#bjornborg #TrainToLive
A new and exciting material we use in our SS23 Collection is REPREVE® Our Ocean™.
“To produce these fibres, plastics at high risk of entering the ocean are collected in coastal areas in developing countries or areas that lack formal waste or recycling systems. The waste is cleaned, broken down, certified by a third-party organisation, and transformed into premium fibres.”
Read more about the materials we use on bjornborg.com/sustainability.

#bjornborg #TrainToLive
New SS23 Collection now available at bjornborg.com.

#bjornborg #TrainToLive
Heritage.

#bjornborg #TrainToLive
Sports Hour. 
It’s not about being first over the finish line or lifting the heaviest, that’s just bullsh*t. It’s about being bold, having the best ideas and never giving up. 

#bjornborg #TrainToLive
Let’s continue to push sustainable boundaries together. Read more about our sustainability initiatives at bjornborg.com.

#bjornborg #TrainToLive
30 years of perfection. With long-fibre organic cotton, flexible stretch and a perfect fit - the Premium Cotton Stretch.

#bjornborg #TrainToLive
DNA.

#bjornborg #TrainToLive
We don’t live to train. We #TrainToLive.

#bjornborg
At Björn Borg, we believe sustainable products are long-lived and comes with a great fit. To support you becoming the best version of yourself.

#bjornborg #TrainToLive
Heritage.

#bjornborg #TrainToLive
Sports Hour @giulialachdebere.

#bjornborg #TrainToLive