Helvetia Holding AG (OTCPK:HLVTY)
$ 3.49 0 (0%) Market Cap: 7.38 Bil Enterprise Value: 9.05 Bil PE Ratio: 29.07 PB Ratio: 2.36 GF Score: 54/100
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Helvetia Holding AG to Discuss Consequences of COVID-19 and Special Effect Negatively Impact the Half Year Result Call Transcript

Aug 25, 2020 / 08:00AM GMT
Release Date Price: $2.35
Operator

Ladies and gentlemen, welcome to the Helvetia Analyst Conference Call. I'm Hailey, the Chorus Call operator. (Operator Instructions) The conference is being recorded. (Operator Instructions)

(technical difficulty)

to be recorded for publication or broadcast.

At this time, it's my pleasure to hand over to Paul Norton, CFO. Please go ahead.

Paul Norton
Helvetia Holding AG - CFO

Good morning, everybody, and thanks for taking part at short notice in this short call. The reason is, obviously, the press release we put out this morning regarding the write-off of a IT project and going in different directions, in particular, our IT project. I'll give you some background on that in a second.

The reason we produced the press release only a couple of weeks before our press conference is obviously because of the ad hoc rules. CHF 40 million before tax is actually not very material to a normal half year, but because of the special effects that we announced a few weeks ago from the precaution for COVID and with a profit of just around

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