May 11, 2020 / 10:51 AM / 23 days ago

BRIEF-Fermentalg Q1 Sales Rise To 0.6 Million Euros

May 11 (Reuters) - FERMENTALG SA:

* Q1 PRODUCT SALES EUR 595K VERSUS EUR 88K YEAR AGO

* COMMISSIONING OF A NEW CARBON SINK AS PART OF THE PARTNERSHIP WITH SUEZ

* ON CORONAVIRUS: PANDEMIC DID NOT INTERRUPT THE WORK OF SUBCONTRACTORS

* COVID-19: PRODUCT LAUNCH DECISIONS AND SCHEDULES AND LEVEL OF CONSUMPTION IN MAJOR MARKETS LIKE NORTH AMERICA WILL LIKELY BE AFFECTED

* BUSINESS ACTIVITY IS DISRUPTED BY DIFFERENT CONTAINMENT MEASURES IN TERMS OF DELIVERY OF PRODUCTS AND SAMPLES AND AT LEVEL OF COMMERCIAL PROSPECTING (CANCELLATION OF MAIN TRADE SHOWS)

* TOO EARLY TO MEASURE ALL IMPACTS OF COVID-19 EPIDEMIC ON FISCAL YEAR 2020 AND BEYOND

* DIFFICULTIES DUE TO COVID-19 AFFECT NEGATIVELY SALES EVOLUTION SINCE THE END OF Q1

* IN ORDER TO CONSOLIDATE ITS GROSS CASH POSITION (€5.9 MILLION AT THE END OF MARCH 2020 COMPARED TO €8.0 MILLION AT THE END OF 2019) HAS APPLIED FOR AND OBTAINED APPROVAL FOR A €1 MILLION LOAN FROM BPIFRANCE

* HAS STARTED DISCUSSIONS WITH KEPLER CHEVREUX FOR RENEWAL AND EXTENSION OF ITS EQUITY FINANCING LINE, FOR AROUND EUR 10 MILLION Source text for Eikon: Further company coverage: (Gdansk Newsroom)

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