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MarketScreener Homepage  >  Equities  >  BURSA MALAYSIA  >  Euro Holdings    EURO   MYL7208OO001

EURO HOLDINGS

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Euro zone first-quarter growth plunge deepest on record as coronavirus hits

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05/15/2020 | 05:26am EDT
Outbreak of the coronavirus disease (COVID-19) in Frankfurt

The euro zone economy saw its deepest contraction on record in the first three months of the year against the previous quarter, as expected by markets, data showed on Friday, as a result of lockdowns introduced in March to slow the coronavirus pandemic.

The European Union's statistics office Eurostat said in a flash estimate that the gross domestic product of the 19 countries sharing the euro contracted 3.8% quarter-on-quarter for a 3.2% year-on-year fall, as expected by economists.

Eurostat said this was the sharpest quarterly decline since time series started in 1995. Year-on-year, the fall was the sharpest since the third quarter of 2009 when euro zone output shrank 4.5%.

France recorded the deepest quarterly contraction of 5.8%, followed by Slovakia with 5.4% and Spain with 5.2%. Italy's output shrank 4.7% quarter-on-quarter, putting it officially in recession after a 0.1% contraction in the last quarter of 2019.

The euro zone's biggest economy Germany weathered the lockdown better with a 2.2% contraction while Finland was the only euro zone country that still managed to grow 0.1%.

Eurostat said euro zone exports fell 6.2% in March as a result of the pandemic, but imports dropped even more -- 10.1% year-on-year -- boosting the euro zone's external trade surplus to 28.2 billion euros from 22.7 billion a year earlier.

Still, trade between euro zone countries tumbled 12.1% in March compared to a year earlier to 153.3 billion euros as a result of the lockdowns introduced against COVID-19.

Employment in the euro zone fell 0.2% quarter-on-quarter in the January-March period, the first quarterly decline since Eurostat started the series in the second quarter of 2013, bringing the year-on-year employment growth rate sharply down to 0.3% from1.1% in the previous three months.

(Reporting by Jan Strupczewski, editing by Robin Emmott)

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Financials
Sales 2019 71,1 M 16,6 M 16,6 M
Net income 2019 -12,7 M -2,98 M -2,98 M
Net Debt 2019 52,5 M 12,3 M 12,3 M
P/E ratio 2019 -3,46x
Yield 2019 -
Capitalization 307 M 71,7 M 71,8 M
EV / Sales 2018 0,75x
EV / Sales 2019 1,36x
Nbr of Employees -
Free-Float 11,3%
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Managers
NameTitle
Lim Teck Boon Director & Managing Director
Mohamad Haniff bin Abdul Aziz Chairman
Kah Hoe Tong Group Chief Operating Officer
Shea Choon Poo Chief Financial Officer
Poh Ling Tan Independent Non-Executive Director
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