March 25, 2020 / 6:15 PM / 9 days ago

BRIEF-Aubay FY Operating Profit Up At 39.8 Million Euros

March 25 (Reuters) - Aubay SA:

* 2019 FINANCIAL RESULTS- COVID-19 INFORMATION : REVENUE: +4.3% - OPERATING MARGIN: 10.2% - NET INCOME ATTRIBUTABLE TO OWNERS OF THE PARENT: EUR 26.4 MILLION

* PROPOSED DIVIDEND PAYMENT UNCHANGED AT EUR 0.60 PER SHARE

* 2020 BEGAN AT A FASTER THAN EXPECTED PACE. GROUP IS THEREFORE READY TO DEAL WITH CURRENT SITUATION IN OPTIMAL OPERATIONAL HEALTH

* FY NET INCOME ATTRIBUTABLE TO OWNERS OF THE PARENT EUR 26.4 MILLION VERSUS EUR 27.3 MILLION YEAR AGO

* FY OPERATING PROFIT AMOUNTED TO EUR 39.8 MILLION

* OUTLOOK : A PRELIMINARY ESTIMATE REVEALS THAT DAILY REVENUE IS 10% BELOW THE LEVEL BUDGETED SINCE MID-MARCH

* REVENUE TARGET OF EUR 450 MILLION ANNOUNCED IN JANUARY HAS THEREFORE BEEN SUSPENDED

* DECISION HAS BEEN TAKEN TO TEMPORARILY FREEZE NEW HIRING, EXCEPT IN ITALY, GIVEN MAJOR NEW ACCOUNTS WON THERE IN LATE 2019

* A SHARP INCREASE IN END-FY NET CASH (EXCLUDING RENTAL LIABILITIES) TO EUR 11.6 MILLION

* Q1 WILL BE MUCH LESS IMPACTED THAN Q2 Source text for Eikon: Further company coverage: (Gdansk Newsroom)

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