Brief: Aquafil FY Net Profit Shrinks To EUR 9.0 Mln

Aquafil SpA

13/03/2020 17:27

March 13 (Reuters) - Aquafil SpA  ECNL.MI :
    * FY TOTAL REVENUE EUR 549.0 MILLION VERSUS EUR 555.2
MILLION YEAR
AGO
    * FY NET PROFIT EUR 9.0 MILLION VERSUS EUR 30.1 MILLION YEAR
AGO
    * CORONAVIRUS AND THE GROUP'S ACTIVITIES  LIMITED IMPACTS IN
CHINA
    * CORONAVIRUS,  AT PRESENT, GROUP HAS NOT SUFFERED
SIGNIFICANT
NEGATIVE EFFECTS ON PRODUCTION, LOGISTICS AND COMMERCIAL LEVELS
IN TERMS OF SALES VOLUMES AND ENTRY OF NEW ORDERS FROM ITS
CUSTOMERS
    * ON CORONAVIRUS,  CURRENT EVOLUTION OF THE PHENOMENON DOES
NOT
ALLOW TODAY TO EXPRESS ASSESSMENTS ON ITS FUTURE EVOLUTION
    * EMEA  REORGANISATION OF MANUFACTURING ACTIVITIES EXPECTED
SAVINGS OF ABOUT €4.0 MILLION IN 2020
    * ASIA AND OCEANIA: INTEGRATION OF INVISTA BUSINESS
COMPLETED WITH
EXPECTED SAVINGS OF ABOUT €1.0 MILLION IN 2020
    * NORTH AMERICA: 2019 RESULTS ABOVE EXPECTATIONS EXPECTED
SAVINGS
OF ABOUT €2.5 MILLION IN 2020

Source text for Eikon:  ID:nBIA4hk5vZ 
Further company coverage:  ECNL.MI 

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