February 14, 2018 / 6:57 AM / 3 months ago

BRIEF-Esprinet Q4 Net Profit Increases to EUR 16.2 Million

Feb 14 (Reuters) - ESPRINET SPA:

* REPORTED ON TUESDAY Q4 NET PROFIT EUR 16.2 MLN VS EUR 15.1 MLN YEAR AGO

* Q4 REVENUE EUR 1.09 BLN VS EUR 1.12 BLN YEAR AGO

* CONFIRMS 2018 SALES TO GROW “LOW-SINGLE DIGIT”

* 2018 EBIT SHOULD BE EUR 39-41 MILLION, NET OF NON-RECURRING AND EXTRAORDINARY ITEMS

* AT END-2017, IT IS ESTIMATED THAT OF THE 4 PLANNED COVENANTS 3 HAVE BEEN RESPECTED

* IT HAS STARTED NEGOTIATIONS WITH A POOL OF BANKS TO OBTAIN WAIVER TO EXERCISE THEIR RIGHT OF EARLY REPAYMENT FOLLOWING THE COVENANT BREACH

Source text for Eikon:

Further company coverage: (Gdynia Newsroom)

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