April 30, 2020 / 5:31 PM / a month ago

BRIEF-Ales Groupe Q1 Revenue Down At 48.7 Million Euros

April 30 (Reuters) - ALES GROUPE SA:

* Q1 2020 REVENUE

* Q1 REVENUE EUR 48.7 MILLION VERSUS EUR 56.0 MILLION YEAR AGO

* NET DEBT EXCLUDING FACTORING AMOUNTED TO € 84.7 MILLION AS OF DECEMBER 31, 2019

* END OF APRIL 2020 CASH OF AROUND 15 MILLION EUROS

* GROUP EXPECTS TURNOVER LEVEL IN Q2 2020 IN SHARP DECLINE COMPARED TO 2019

* ON COVID-19 : MID-MARCH SHUTDOWN OF ITS TWO PLANTS AND ITS DISPATCH CENTRE, WITH SALES ASSURED FROM THE STOCK HELD BY ITS FOREIGN SUBSIDIARIES

* ON COVID-19 : USE OF SHORT-TIME WORKING, PARTICULARLY IN PRODUCTION AND LOGISTICS UNITS

* FACES SIGNIFICANT NEED FOR LIQUIDITY IN ORDER TO FINANCE GRADUAL RESUMPTION OF ACTIVITY FROM MAY

* GRADUAL RESUMPTION OF INDUSTRIAL ACTIVITY IS SCHEDULED FOR THE FIRST HALF OF MAY Source text for Eikon: Further company coverage: (Gdansk Newsroom)

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