Brief: ABC Arbitrage To Incur About EUR 3 Mln Negative Impact On FY Results
07/06/2021 07:20
June 7 (Reuters) - ABC Arbitrage SA BITI.PA :
* ANNOUNCED ON FRIDAY THAT ON JUNE 4, GROUP AGREED WITH
FRENCH TAX
AUTHORITIES TO MODIFY CHARACTERISTICS OF ITS TRANSFER PRICING
POLICY ("TPP") IN ORDER TO SECURE AND CONSOLIDATE ITS FUTURE
DEVELOPMENT CAPACITIES
* WILL INCUR EXCEPTIONAL NEGATIVE IMPACT ON ITS 2021
CONSOLIDATED
FINANCIAL STATEMENTS FOR YEARS 2015 TO 2020 OF AROUND EUR 3 MLN,
OR ABOUT 2% OF SUM OF CONSOLIDATED RESULTS FOR YEARS CONCERNED
* AS OF MAY 31, 2021, EXCLUDING THIS SPECIFIC IMPACT,
GROUP'S
AVERAGE MONTHLY ACTIVITY RATE FOR THESE FIRST FIVE MONTHS IS
CLOSE TO AVERAGE MONTHLY RATE FOR FY 2020
* CO HAS STARTED YEAR IN LINE WITH ITS SECOND HISTORICAL
FISCAL
YEAR, ACHIEVED IN 2020
* GROUP'S MANAGEMENT COMPANIES HAVE COLLECTED NEARLY EUR 100
MLN,
BRINGING TOTAL CLIENT ASSETS UNDER MANAGEMENT TO EUR 462 MLN AS
OF 31 MAY 2021
* AS REMINDER, GROUP'S AMBITIONS ARE TO EXCEED EUR 650 MLN
UNDER
MANAGEMENT AS OF END-2021 WITH EXPECTED GROSS PROFITABILITY OF
MORE THAN 2% ON THESE NEW ASSETS, I.E. POTENTIAL OF NEARLY EUR 2
MLN IN ADDITIONAL ANNUAL REVENUES
* GROUP IS PURSUING WITH CONVICTION IMPLEMENTATION OF ITS
ABC 2022
STRATEGIC PLAN
Source text for Eikon: urn:newsml:reuters.com:*:nGNE223WSK
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