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Covid 19 impact and update on capital redistribution
Stockholm, Sweden – Extensive impact on society in combination with canceled or postponed sports events and leagues affect Net Insight. Capital redistribution plans are being pushed forward in time.
The outbreak of the Covid 19 pandemic has already had far-reaching effects on society and the economy. As of today, many of Net Insight's geographical markets are still in the early stages of the outbreak. This, combined with great uncertainty about the virus's continued spread and impact on the economy, makes the effects on Net Insight's business difficult to predict. The business situation during the first months of 2020 was positive. Cancelled or postponed sports events and leagues in combination with travel and visitor restrictions, and a general increase in uncertainty and caution on the part of Net Insight's customers have had a negative financial impact at the end of the first quarter. This will most likely also have a negative impact on the second quarter. The company actively monitors the development and takes continuous measures to limit the negative effects.
The Board will not propose any form of capital redistribution to the next Annual General Meeting. Given the current uncertainty in the market, decisions on the forms and timing of a capital redistribution will be pushed forward in time.
For further information, please contact:
Anders Harrysson, Interim CEO at Net Insight AB, +46 8 685 04 00, anders.harrysson@netinsight.net
About Net Insight
Net Insight is a global leader in media networks and resource optimization. With more than 20 years' experience, Net Insight is a trusted and important partner and a leading force in the media tech industry in creating a better media experience.
Net Insight is powering the evolving media business in a connected world where technology enables seamless meetings between producers, distributors and consumers of content – regardless of geographical location, technical resources or distribution network. With its deep market knowledge and insight, genuine customer focus and world-leading innovative technology, Net Insight makes it easier to create and deliver better content in a more reliable and effective way. Net Insight is driven by the idea that everything can always be done smarter, for both its customers and their customers.
More than 500 world-class customers run mission-critical media services using Net Insight's solutions in more than 60 countries worldwide. Net Insight is listed on Nasdaq Stockholm.
For more information, please visit netinsight.net
Twitter: @NetInsight, twitter.com/NetInsight
LinkedIn: @Net Insight, www.linkedin.com/company/net-insight/
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