March 24, 2020 / 8:28 AM / 12 days ago

BRIEF-AST Groupe FY EBITDA Falls To 7.8 Million Euros

March 24 (Reuters) - AST GROUPE SA:

* FY REVENUE EUR 201.4 MILLION VERSUS EUR 225.4 MILLION YEAR AGO

* NET INCOME GROUP SHARE EUR 2.5 MILLION VERSUS EUR 8.0 MILLION YEAR AGO

* FY EBITDA EUR 7.8 MILLION VERSUS EUR 13.8 MILLION YEAR AGO

* AT THE END OF DECEMBER 2019, THE GROUP’S FINANCIAL POSITION REMAINED SOLID WITH CASH OF € 34.9 MILLION

* ON CORONAVIRUS: IN ORDER TO ENSURE THE SAFETY OF ITS EMPLOYEES AND CUSTOMERS, THE GROUP HAS CLOSED ITS SALES OFFICES, TECHNICAL CENTRES AND POBI FACTORY AND HAS INTRODUCED TELEWORKING FOR ALL COMPATIBLE POSITIONS TO ENSURE THE CONTINUITY OF HR, ADMINISTRATIVE, IT AND FINANCIAL SERVICES

* ON CORONAVIRUS: FOLLOWING THE ANNOUNCEMENT OF THE CONTAINMENT MEASURES, THE TEAMS ALSO SUSPENDED WORK IN PROGRESS AND PROCEEDED TO SECURE ALL OF THE GROUP’S WORKSITES

* FY OPERATING INCOME EUR 4.0 MILLION VERSUS EUR 12.3 MILLION YEAR AGO

* AT END DEC 2019 NET DEBT OF EUR 5.8 MILLION

* OUTLOOK : CONFIDENT IN ITS ABILITY TO BOUNCE BACK, THE GROUP WILL CONTINUE AND FINALIZE ITS TRANSFORMATION, THE FIRST MEASURES OF WHICH HAVE RESULTED IN AN INCREASE IN THE RATE OF CONVERSION OF PROSPECTS AND A REDUCTION IN ADMINISTRATIVE DELAYS (BETWEEN THE CLIENT’S SIGNATURE AND THE START OF WORK) FROM THE BEGINNING OF 2020

* GROUP 2020 SALES WERE IN LINE WITH THIS POSITIVE TREND, WITH ORDER INTAKE AT END OF FEBRUARY, UP 9% (335 SALES COMPARED WITH 307 FOR THE SAME PERIOD LAST YEAR)

* HAS FINANCIAL ASSETS ENABLING IT TO MEET ALL OF ITS MATURITY DATES OVER THE NEXT 3 MONTHS

* ON CORONAVIRUS: INTRODUCE SHORT-TIME WORKING FOR A MAJORITY OF EMPLOYEES AS OF MARCH 18, WHICH WILL REDUCE THE IMPACT OF THE DECLINE IN ACTIVITY OVER THE PERIOD Source text for Eikon: Further company coverage: (Gdansk Newsroom)

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