March 26, 2020 / 5:47 PM / 3 days ago

BRIEF-Xilam Animation FY Net Profit Up At 6.9 Million Euros

March 26 (Reuters) - Xilam Animation SA:

* FY REVENUE GROWTH: +10%

* FY STRONG GROWTH IN PROFITABILITY: OPERATING INCOME +24% AND NET INCOME +33%

* HAS NOT IDENTIFIED ANY ADVERSE IMPACT OF COVID-19 EPIDEMIC ON ITS PRODUCTION OR SALES ACTIVITIES

* FY CURRENT OPERATING INCOME IFRS 16 EUR 9.2 MILLION VERSUS EUR 8.4 MILLION YEAR AGO

* FY NET INCOME IFRS 16 EUR 6.9 MILLION VERSUS EUR 5.2 MILLION YEAR AGO

* ANTICIPATES THAT ANY DISPLACEMENT EXPERIENCED DURING CONTAINMENT WEEKS WILL BE MADE UP BY 2021

* IN EVENT THAT CONTAINMENT CONTINUES BEYOND CURRENT EXPECTATIONS, COMPANY WILL PROVIDE NEW GUIDANCE ON ITS PROSPECTS

* FY TOTAL REVENUE EUR 30.1 MILLION VERSUS EUR 28.0 MILLION YEAR AGO

* XILAM HAD AVAILABLE CASH OF EUR 20.0 MILLION AT 31 DECEMBER 2019 (VERSUS. EUR 2.3 MILLION AT 31 DECEMBER 2018)

* END-DEC 2019 GROUP’S NET DEBT HAS BEEN REDUCED TO €3.5 MILLION VERSUS €7.8 MILLION AT END DECEMBER 2018

* HAS ANNOUNCED NEW CUMULATIVE REVENUE TARGETS USING 2-YEAR CYCLES: EUR 78 MILLION FOR FISCAL YEARS 2020-2021 AND EUR 110 MILLION FOR FISCAL YEARS 2022-2023

* END-DEC SHAREHOLDERS’ EQUITY AMOUNTED TO €55.3 MILLION (VERSUS. €48.2 MILLION) Source text for Eikon: Further company coverage: (Gdansk Newsroom)

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