March 25, 2020 / 4:50 PM / 2 months ago

BRIEF-Fila FY Net Profit Up At EUR 24 Mln

March 25 (Reuters) - FILA Fabbrica Italiana Lapis ed Affini SpA:

* FY TOTAL REVENUE EUR 689.4 MILLION VERSUS EUR 597.4 MILLION YEAR AGO

* FY NET PROFIT EUR 24 MILLION VERSUS EUR 8.7 MILLION YEAR AGO

* FY ADJUSTED NET PROFIT EUR 43.1 MILLION, +56.4% YEAR/YEAR

* GIVEN COVID-19 CRISIS, BOARD TO PROPOSE TO SHAREHOLDERS’ MEETING TO CARRY FORWARD IN FULL 2019 PROFIT

* RESERVES RIGHT TO FURTHER ASSESS AND CALL A NEW SHAREHOLDERS’ MEETING TO DISTRIBUTE 2019 PROFIT IN SECOND HALF OF THIS YEAR

* CORONAVIRUS IMPACT IS NOT EXPECTED TO BE SIGNIFICANT IN FIRST QUARTER OF THIS YEAR

* GROUP’S PLANT ARE OPERATIONAL, IN ACCORDANCE WITH REGULATIONS FOR EACH COUNTRY

* SEES FOR 2020, FURTHER SUSTAINED GROWTH ON INDIAN MARKET IS FORECAST, TOGETHER WITH REVENUE RECOVERY IN NORTH AMERICA AND IN EUROPE

* PLANTS CLOSURES ARE SCHEDULED FOR 15 DAYS IN SANTO DOMINGO, IN FLORENCE AND THE UK AND 7 DAYS IN MUMBAI

* OUTLOOK FOR 2020 COULD BE AFFECTED IN EARLY MONTHS OF 2020 BY INSTABILITY RESULTING FROM COVID-19 CRISIS

* CHINESE PLANT IS OPERATING AT 100% POTENTIAL Source text for Eikon: Further company coverage: (Gdansk Newsroom)

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