Brief: Boostheat H1 EBITDA Loss Widens To 5.0 Million Euros

Boostheat SAS

17/09/2020 07:26

Sept 17 (Reuters) - Boostheat SAS  BOOST.PA :
    * BOOSTHEAT CONFIRMS THE TRAJECTORY OF ITS EFFICIENCY 2022
PLAN
AND PROVIDES DETAILS OF ITS FIRST-HALF 2020 RESULTS
    * STABILISATION OF OPERATING EXPENSES IN FIRST HALF OF 2020
    * IMPLEMENTATION OF THREE-PART EFFICIENCY 2022 PLAN
    * IS CURRENTLY ON TRACK TO REACH ITS PREVIOUSLY ANNOUNCED
MILESTONES AND IS STILL AIMING TO RESUME COMMERCIAL ACTIVITIES
IN FIRST HALF OF 2021
    * OUTLOOK: CONFIRMATION OF COMMERCIAL AND FINANCIAL
AMBITIONS
    * BOOSTHEAT IS ALSO MAINTAINING ITS EFFORTS TO ACHIEVE THOSE
MILESTONES AHEAD OF SCHEDULE
    * IN FIRST HALF OF 2020, BOOSTHEAT MADE A LOSS OF EUR5.0
MILLION
AT EBITDA LEVEL, AS OPPOSED TO A LOSS OF EUR4.2 MILLION IN FIRST
HALF OF 2019
    * CONFIRMING 2022 GUIDANCE
    * AT 30 JUNE 2020, GROUP HAD EUR17.2 MILLION OF AVAILABLE
CASH
    * GROSS DEBT AMOUNTED TO EUR13.0 MILLION AT 30 JUNE 2020
    * PLAN COULD LEAD TO LOSS OF AROUND 40 JOBS, MOSTLY IN
MANUFACTURING AND RESEARCH AND DEVELOPMENT AND INCLUDING RECENT
RESTRUCTURING OF BOOSTHEAT FRANCE COMMERCIAL SUBSIDIARY
    * EXPECTS TO ACHIEVE CUMULATIVE SAVINGS OF EUR10 MILLION BY
END OF
2022.

Source text for Eikon:  ID:nACT65050 
Further company coverage:  BOOST.PA 

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