March 23, 2020 / 7:29 AM / 16 days ago

BRIEF-Vinci Expects Decline In Revenue Due To Coronavirus

March 23 (Reuters) - Vinci SA:

* IMPACT OF THE COVID-19 EPIDEMIC

* COVID-19 PANDEMIC IS HAVING A SIGNIFICANT IMPACT ON VINCI’S ACTIVITIES

* BY END OF FEBRUARY, DECLINE REMAINED LIMITED (-1.4%), BUT PASSENGER NUMBERS HAVE FALLEN SHARPLY IN MARCH, WITH AN ESTIMATED 40% DECLINE IN FIRST THREE WEEKS OF MONTH

* DECLINE HAS WORSENED IN LAST FEW DAYS FOLLOWING CONTAINMENT MEASURES AND DECISIONS TAKEN BY SOME COUNTRIES TO CLOSE THEIR BORDERS

* THIS STAGE, GIVEN UNCERTAINTY ABOUT DURATION AND SCALE OF HEALTH CRISIS, IT IS NOT POSSIBLE TO QUANTIFY ITS IMPACT ON GROUP’S FINANCIAL STATEMENTS

* IT APPEARS THAT VINCI WILL BE UNABLE TO MEET ITS TARGET, ANNOUNCED IN FEBRUARY, OF ACHIEVING REVENUE AND EARNINGS GROWTH IN 2020

* ON VINCI AUTOROUTES: CONTAINMENT MEASURES RECENTLY TAKEN IN FRANCE HAVE INTENSIFIED DECLINE IN TRAFFIC LEVELS

* ON VINCI AUTOROUTES: FALL IN HEAVY VEHICLE TRAFFIC HAS BEEN LESS SEVERE, WITH FRANCE MAINTAINING A BASIC LEVEL OF ECONOMIC ACTIVITY

* ON CORONAVIRUS: GROUP EXPECTS A PRONOUNCED BUT TIME-LIMITED DECLINE IN ITS REVENUE Source text for Eikon: Further company coverage: (Gdansk Newsroom)

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