March 14, 2019 / 7:09 AM / 8 days ago

BRIEF-Cellularline FY Adj. Net Profit Down At EUR 23 Mln, To Propose Dividend Of EUR 0.30/SHR

March 14 (Reuters) - Cellularline:

* REPORTED ON WEDNESDAY FY SALES REVENUE OF 129.7 MILLION EUROS VERSUS RESTATED 139.5 MILLION EUROS A YEAR AGO

* FY ADJUSTED NET PROFIT WAS EUR 23 MILLION VERSUS EUR 24 MILLION A YEAR AGO

* FY CONSOLIDATED NET RESULT, INCLUDING ALL THE NON-RECURRING EFFECTS, WAS EUR 17 MILLION VERSUS EUR 24 MILLION A YEAR AGO

* FY NET PROFIT OF THE PARENT COMPANY AT EUR 8 MILLION

* THE NET PROFIT FOR THE YEAR OF THE PARENT COMPANY CELLULARLINE S.P.A. IS EQUAL TO EURO 8 MILLION

* TO PROPOSE FY DIVIDEND OF EUR 0.30 PER SHARE

* SAID C. EUR 11 MILLION DECREASE IN SALES DUE TO DROP IN RUSSIAN, MIDDLE EASTERN AND ITALIAN MARKETS (LATTER ACCOUNTS FOR MORE 80% OF TOTAL DECLINE)

* DECREASE IN SALES MAINLY ATTRIBUTABLE TO NON-RECURRING FACTORS RELATED TO DE-STOCKING AND NETWORK REORGANIZATION OF SOME CUSTOMERS ON ITALIAN MARKET

* CLOSING OF THE M&A TRANSACTION WITH SYSTEMAITALIA CONFIRMED FOR APRIL 2019

* THE PREPARATORY ACTIVITIES FOR LISTING IN THE STAR SEGMENT OF THE ITALIAN BOURSE’S MTA CONTINUE

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Further company coverage: (Gdynia Newsroom)

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