In February 2019 XXL negotiated and agreed on new covenants for XXL for Q1 2019 and Q2 2019. Today XXL and the bank consortium have proactively agreed on a new covenant for Q3 2019 as well. XXL believes we now have satisfying headroom for 2019 and going forward with the following covenants on Net Debt/EBITDA basis (excluding IFRS 16 effects) – Q2 2019 of 4.5x, Q3 2019 of 4.25x and Q4 2019 and going forward of 3.5x.
So far the EBITDA (excluding IFRS 16 effects) for Q2 2019 are progressing slightly behind last year, but June has just started and is the most important month in the quarter.
For further queries, please contact:
Tolle O. R. Grøterud
Investor Relations XXL ASA
Tel: +47 90 27 29 59
E-mail:ir@xxlasa.com
This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act