Brief: Bassac FY Net Result Group Share Down At 97.2 Million Euros

Bassac SA

20/03/2020 17:29

March 20 (Reuters) - BASSAC  BASS.PA :
    * FY REVENUE EUR 975.6 MILLION VERSUS EUR 841.7 MILLION YEAR
AGO
    * FY NET RESULT GROUP SHARE 97.2 MILLION VERSUS EUR 98.6
MILLION
YEAR AGO
    * PROPOSES DIVIDEND OF EUR 2,50 PER SHARE
    * ON CORONAVIRUS:  BASSAC SUBSIDIARIES HAVE PUT IN PLACE
PROCEDURES AND WORK ORGANISATION ARRANGEMENTS DESIGNED TO
PROTECT THE HEALTH OF THEIR EMPLOYEES, CUSTOMERS, SUPPLIERS AND
OTHER PARTNERS, WHILE MAINTAINING, AS FAR AS POSSIBLE, THEIR
ACTIVITY DURING THIS UNPRECEDENTED PERIOD
    * FY CURRENT OPERATING INCOME AMOUNTED TO EUR 157.8 MLN IN
2019,
COMPARED TO EUR 154.7 MLN IN 2018
    * ON CORONAVIRUS:  HAS ALSO JUST MOBILIZED PREVIOUSLY
UNDRAWN
CREDIT FACILITIES IN ORDER TO FURTHER STRENGTHEN ITS ALREADY
STRONG LIQUIDITY, PUTTING ITSELF IN FULL CAPACITY TO DEAL WITH
THE POSSIBLE ECONOMIC AND FINANCIAL IMPACTS OF THE CURRENT
CRISIS
    * ON CORONAVIRUS: DROP IN COMMERCIAL ACTIVITY IN 2020 WILL
HAVE A
NEGATIVE IMPACT ON THE RECONSTRUCTION OF BASSAC'S ORDER BOOK AND
ITS TURNOVER FOR THE COMING YEARS
    * ON CORONAVIRUS:  IS IN THE PROCESS OF ANALYSING THE
POSSIBLE
IMPACTS OF THIS EPIDEMIC ON ITS ACTIVITY, WITH SOME DIFFICULTY
IN PREDICTING ITS DURATION AND CONSEQUENCES AT THIS STAGE
    * ON CORONAVIRUS: EPIDEMIC AND ASSOCIATED CONTAINMENT
MEASURES
HAVE LED TO INTERRUPTION AT CERTAIN CONSTRUCTION SITES
    * AT DECEMBER 31, 2019, THE ORDER BACKLOG AMOUNTED TO EUR
1.479
MILLION, UP 7% COMPARED TO LAST YEAR
    * ON CORONAVIRUS:  AS LONG AS IT LASTS, THE EPIDEMIC WILL
LEAD TO
A SIGNIFICANT DROP IN ALL FORMS OF COMMERCIAL ACTIVITY AND
THEREFORE IN THE NUMBER OF HOUSING RESERVATIONS IN 2020, WHICH
WILL HAVE A NEGATIVE IMPACT ON THE REBUILDING OF BASSAC'S ORDER
BOOK AND ON ITS SALES IN SUBSEQUENT YEARS
    * ON CORONAVIRUS: IF DISRUPTION CONTINUES, THIS WOULD LEAD
FOR
FISCAL YEAR 2020 TO A SIGNIFICANT DROP IN BASSAC'S TURNOVER AND
NET PROFIT VERSUS 2019

Source text for Eikon:  ID:nACT62585 
Further company coverage:  BASS.PA 

 (Gdansk Newsroom)
 ((Gdansk.newsroom@thomsonreuters.com; +48 58 778 51 10;))