Brief: Clabo FY Net Profit Up At EUR 0.3 Mln
31/03/2020 06:50
March 31 (Reuters) - Clabo SpA CLAB.MI :
* FY PRODUCTION VALUE EUR 54.6 MILLION VERSUS EUR 53.0 MILLION YEAR AGO
* FY NET PROFIT EUR 0.3 MILLION VERSUS EUR 0.2 MILLION YEAR AGO
* IT IS IMPOSSIBLE TO ESTIMATE IMPACT OF COVID-19 ON 2020
* SIGNIFICANT DECLINE IN REVENUES BETWEEN MARCH AND AUG SEEMS REALISTIC AS WELL AS LIKELY
* CEO SAYS TO GO BACK TO NORMAL BY NEXT AUTUMN WITH RETURN TO ECONOMIC EQUILIBRIUM AND CASH
FLOW
GENERATION FROM Q4 2020
* ALL WORKERS IN JESI PLANT ARE ON EXTRAORDINARY REDUNDANCY FUND UNTIL APRIL 3
* PLANS TO REDUCE STAFF
Source text for Eikon: ID:nBIAdj2Jk
Further company coverage: CLAB.MI
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