Brief: CIR Q1 Net Result Turns To Loss of EUR 12.2 Mln

CIR - Compagnie Industriali Riunite

24/04/2020 11:53

April 24 (Reuters) - CIR SpA - Compagnie Industriali Riunite
 CIRI.MI :
    * Q1 NET LOSS EUR 12.2 MILLION VERSUS NET PROFIT EUR 3.8
MILLION
YEAR AGO
    * Q1 REVENUE EUR 531.5 MILLION VERSUS EUR 530.2 MILLION YEAR
AGO
    * HAS SOLID BALANCE SHEET, WITH NET FINANCIAL POSITION OF
EUR
280.7 MILLION
    * UNCERTAINTY REGARDS EVOLUTION OF SOGEFI'S ACTIVITY, DUE TO
IMPACT ON COVID-19 ON AUTOMOTIVE SECTOR
    * ON COVID-19 CRISIS, GROUP HAS IMPLEMENTED MEASURES TO
REDUCE
COSTS AND MINIMIZE DISBURSEMENTS FOR CURRENT COSTS AND
INVESTMENTS NOT STRICTLY NECESSARY
    * GROUP ALSO REGULARLY ASSESSES LIQUIDITY POSITIONS
    * GROUP PREPARES FOR RECOVERY, PROVIDING FOR IMPROVED SAFETY
STANDARDS FOR STAFF AND COST FLEXIBILITY, IN RELATION TO VOLUMES
THAT WILL BE PENALIZED FOR A TIME BY CIRCUMSTANCES
    * SEES NET FINANCIAL POSITION AT ABOUT EUR 380 MILLION AT
END OF
APRIL

Source text for Eikon:  ID:nBIA9LRdS5 
Further company coverage:  CIRI.MI 

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