March 23, 2020 / 8:35 PM / 7 days ago

BRIEF-O2i Reports On Coronavirus Impact On Its Activities

March 23 (Reuters) - O2I SA:

* REPORTED ON MONDAY COVID-19 - UPDATE ON ACTIVITY AND ACTIONS TAKEN

* M2I FORMATION, THE SUBSIDIARY OF THE O2I GROUP SPECIALISING IN TRAINING, CLOSED ALL OF 35 CENTRES IN FRANCE AND SPAIN TO PUBLIC FOR FACE-TO-FACE TRAINING COURSES, WHILE CONTINUING DISTANCE LEARNING COURSES

* THIS PERIOD OF CONFINEMENT TO HAVE SIGNIFICANT IMPACT ON SALES AND RESULTS OVER THIS PERIOD

* O2I INGÉNIERIE AND ADIICT ACTIVITIES ALSO IMPACTED BY CURRENT HEALTH CRISIS BUT TO A MUCH LESSER EXTENT AT THIS STAGE

* IMPACT IN TERMS OF TURNOVER AND RESULTS FOR O2I INGÉNIERIE AND ADIICT IS STILL DIFFICULT TO ASSESS AT THIS STAGE

* GROUP PREPARING FOR STRONG REBOUND IN SALES FROM MAY OR JUNE, DEPENDING ON CHANGES IN HEALTH CONDITIONS

* AT END-FEB 2020, GROUP HAD CASH AND CASH EQUIVALENTS OF EUR 4.7 MLN (UNAUDITED DATA)

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