April 30, 2020 / 5:26 PM / a month ago

BRIEF-Recylex End-March Consolidated Sales Up At 77.9 Million Euros

April 30 (Reuters) - RECYLEX SA:

* FINANCIAL INFORMATION AT MARCH 31, 2020 AND REQUEST FOR EXTENSION OF ONGOING DISCUSSIONS WITH FINANCIAL PARTNERS

* CONSOLIDATED SALES AT MARCH 31, 2020 AMOUNTED TO EUR 77.9 MILLION, UP 3% COMPARED TO Q1 OF 2019

* NEW REQUEST FOR EXTENSION BEYOND MAY 31, 2020 OF ONGOING DISCUSSIONS WITH FINANCIAL PARTNERS DUE TO DELAYS IN ASSET DISPOSALS PROJECTS

* CURRENT ACTIVITY STRONGLY IMPACTED BY DROP IN METAL PRICES, SLOWDOWN IN DEMAND AND ADAPTATION MEASURES TAKEN BY GROUP IN CONNECTION WITH SARS-COV-2 PANDEMIC

* POSTPONEMENT FROM END APRIL TO SECOND HALF OF MAY OF ASSESSMENT OF CONDITIONS UNDER WHICH THEIR FINANCING COULD BE MAINTAINED UNTIL MAY 31, 2020

* AS OF APRIL 29, 2020, GROUP’S CONSOLIDATED NET DEBT AMOUNTED TO EUR 195.0 MILLION COMPARED WITH EUR 183.0 MILLION EUROS ON FEBRUARY 29, 2020

* GROUP IS CLOSELY MONITORING ITS CASH POSITION AND REVIEWING ITS OUTLOOK IN LIGHT OF SARS-COV-2 VIRUS PANDEMIC Source text for Eikon: Further company coverage: (Gdansk Newsroom)

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