March 26, 2020 / 5:37 PM / 7 days ago

BRIEF-Ateme FY Net Profit Group Share Up At EUR 4.6 Million

March 26 (Reuters) - Ateme SA:

* ANNUAL RESULTS

* FY NET PROFIT GROUP SHARE EUR 4.6 MILLION VERSUS EUR 1.7 MILLION YEAR AGO

* FY REVENUE EUR 66.3 MILLION VERSUS EUR 56.5 MILLION YEAR AGO

* FY OPERATING PROFIT EUR 4.7 MILLION VERSUS EUR 1.3 MILLION YEAR AGO

* AS AT DECEMBER 31, 2019, NET FINANCIAL DEBT STOOD AT EUR -3.7 MILLION (CASH SURPLUS)

* END-DEC CASH FLOW INCREASED BY EUR 4.1 MILLION

* ATEME’S ACTIVITY IN THE ASIA-PACIFIC REGION WAS IMPACTED BY THE COVID-19 OUTBREAK EARLIER THIS YEAR

* END-DEC CASH AND CASH EQUIVALENTS AT 10.3 MILLION EUROS COMPARED TO 6.2 MILLION EUROS IN 2018

* FOR THE MOMENT, WE ARE NOT ENCOUNTERING ANY MAJOR LOGISTICAL PROBLEMS

* GIVEN THE DEGREE OF UNCERTAINTY ASSOCIATED WITH THE PANDEMIC AND ITS EFFECTS ON THE MARKETS WE SERVE, WE ARE SUSPENDING THE TEMPORARY FINANCIAL TARGETS OF 20% REVENUE GROWTH BUSINESS

* POTENTIAL IMPACT OF COVID-19 WITH POSTPONEMENT OF MAJOR SPORTING EVENTS SUCH AS UEFA EUROPEAN FOOTBALL CHAMPIONSHIP 2020 AND TOKYO 2020 SUMMER OLYMPICS

* WE HAVE CONFIDENCE IN THE RESILIENCE OF OUR BUSINESS AND OUR ABILITY TO BOUNCE BACK

* WE DO NOT EXPECT SPECTACULAR SLOWDOWN IN OUR ACTIVITY IN SHORT TERM, TO BE SUPPORTED BY RECURRING REVENUE (AND CASH) FLOWS PUT IN PLACE SINCE BEGINNING OF 2019

* TEMPORARY SUSPENSION OF FINANCIAL TARGETS DUE TO THE CORONAVIRUS CRISIS Source text for Eikon: Further company coverage: (Gdansk Newsroom)

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