March 18, 2020 / 5:32 PM / 14 days ago

BRIEF-Cenergy Holdings FY EBITDA Up At 90.3 Million Euros

March 18 (Reuters) - CENERGY HOLDINGS SA:

* FY REVENUE EUR 958.0 MILLION VERSUS EUR 963.8 MILLION YEAR AGO

* FY EBITDA EUR 90.3 MILLION VERSUS EUR 56.2 MILLION YEAR AGO

* NET DEBT FELL TO EUR 414 MILLION ON DECEMBER 31ST, 2019

* GIVEN THE STRONG FORECAST OF NEW PROJECTS AND THE POTENTIAL OF EXPANDING TO NEW MARKETS, THE CONSIDERABLE BACKLOG OF ORDERS AND THE GROWTH POTENTIAL OF THE OFFSHORE CABLES SECTOR, THE OVERALL OUTLOOK FOR THE CABLES SEGMENT REMAINS POSITIVE FOR 2020, DESPITE THE VOLATILITY NOTICED IN THE GLOBAL ECONOMIC ENVIRONMENT

* OUTLOOK: CORINTH PLANT IS EXPECTED TO RETAIN THE HIGH UTILISATION CAPACITY THROUGHOUT 2020 AND THIS WILL BE THE MAIN DRIVER FOR THE SEGMENT’S PROFITABILITY

* OUTLOOK: THE THIVA PLANT IS ALSO EXPECTED TO OPERATE AT HIGH UTILISATION LEVELS THROUGHOUT 2020

* ON CORONAVIRUS: THE PANDEMIC OF COVID-19 IS EXPECTED TO DISTURB SUPPLY CHAINS AROUND THE WORLD, SO THE SUBSIDIARIES CLOSELY MONITOR THE DEVELOPMENTS IN REGARDS TO THE OUTBREAK AND ARE READY TO ADDRESS ANY SHORT-TERM DEMAND FLUCTUATIONS

* OUTLOOK: INTERNATIONAL POLITICAL FACTORS WILL CONTINUE TO WEIGH HEAVILY ON PERFORMANCE IN 2020 WHILE GLOBAL POPULATION GROWTH AND URBANISATION CONTINUE TO ENSURE POSITIVE LONG-TERM PROSPECTS OF OUR INDUSTRY Source text: bit.ly/2vv8zww Further company coverage: (Gdansk Newsroom)

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