April 23, 2020 / 4:44 PM / 3 months ago

BRIEF-SES Imagotag Q1 Sales Down At EUR 50.8 Mln, Sees Return To Growth In H2

April 23 (Reuters) - SES IMAGOTAG SA:

* Q1 SALES AT EUR 50.8M, DOWN -2.7% VERSUS. Q1 2019 (EUR 52.2M)

* RETURN TO GROWTH EXPECTED IN H2

* OUR GROWTH HAS BEEN IMPACTED IN Q1 BY COVID-19 CRISIS, WHICH AFFECTED OUR PRODUCTION CAPACITIES AND CAUSED A SLOWDOWN AND DELAYS IN PROJECTS

* SEVERAL ORDERS AND PROJECTS HAVE BEEN POSTPONED WITHOUT DATES

* ROLLING 12-MONTH SALES AND ORDER ENTRIES UP BY +15.7% AND +38.2%

* GROUP HAS PUT IN PLACE A STRONG CONTINGENCY PLAN TO PREVENT HEALTH RISKS AND TO CONTROL COSTS AS WELL AS INVESTMENTS TO PRESERVE OUR FINANCIAL SITUATION

* PRODUCTION IN CHINA IS NOW BACK TO NORMAL, BUT ACTIVITY WILL STAY IMPACTED IN Q2 DUE TO ACCUMULATED DELAYS AND A SLOWDOWN IN PROJECTS

* GROUP SHOULD BE ABLE TO MAINTAIN A SLIGHTLY DECREASING ACTIVITY IN H1 BEFORE SEEING A RETURN TO GROWTH IN H2 Source text for Eikon: Further company coverage: (Gdansk Newsroom)

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