Brief: Colas H1 Current Operating Loss Widens To 304 Million Euros

COLAS SA

27/08/2020 06:55

Aug 27 (Reuters) - Colas SA  COLP.PA :
    * 2020 HALF-YEAR RESULTS
    * ORDER BACKLOG AT THE END OF JUNE 2020 REMAINS HIGH AT
€10.1
BILLION, UP 1% RESTATED FOR THE MAIN ACQUISITIONS AND DISPOSALS
AND AT CONSTANT EXCHANGE RATES
    * AS EXPECTED, THE IMPACT OF THE COVID-19 PANDEMIC ON COLAS'
BUSINESS AND RESULTS AMPLIFIED DURING THE 2ND QUARTER OF 2020
    * AT CONSTANT SCOPE AND EXCHANGE RATES, CONSOLIDATED REVENUE
WAS
DOWN 18% IN THE 2ND QUARTER (-29% IN FRANCE) COMPARED TO -10% IN
THE 1ST QUARTER (-17% IN FRANCE)
    * H1 CURRENT OPERATING PROFIT: -€304 M IN 1ST HALF YEAR
(-€168 M
COMPARED TO H1 2019)
    * AFTER A SHARP DECLINE IN APRIL, BUSINESS RESUMED
GRADUALLY,
RETURNING TO NORMAL LEVELS IN JUNE
    * H1 NET PROFIT ATTRIBUTABLE TO THE GROUP: -€295 M (-€193 M)
    * THE DROP IN REVENUE DURING THE 1ST HALF OF 2020 DUE TO THE
IMPACT OF THE COVID-19 PANDEMIC IS ESTIMATED AT AROUND €810
MILLION
    * NET DEBT AT JUNE 30, 2020 STOOD AT €1,065 MILLION, AN
IMPROVEMENT OF €479 MILLION COMPARED TO JUNE 30, 2019
    * CONFIRMS THAT IN 2020 IT IS SETTING TARGETS FOR REDUCING
ITS
GREENHOUSE GAS EMISSIONS COMPATIBLE WITH THE PARIS AGREEMENT
    * THE DECLINE IN REVENUE AND CURRENT OPERATING PROFIT IN THE
2ND
HALF OF 2020 COMPARED TO 2019 SHOULD BE SIGNIFICANTLY LOWER THAN
IN THE 1ST HALF
    * THE PAYMENT IN SEPTEMBER OF A DIVIDEND OF €6.40 PER SHARE
FOR
THE 2019 FINANCIAL YEAR WILL BE PROPOSED TO THE ORDINARY GENERAL
SHAREHOLDERS’ MEETING ON SEPTEMBER 3, 2020
    * THE SHARE OF INCOME FROM JOINT VENTURES AND ASSOCIATES
AMOUNTED
TO €4 MILLION AT THE END OF JUNE 2020 COMPARED TO €25 MILLION AT
THE END OF JUNE 2019
    * CONSOLIDATED REVENUE FOR THE 1ST HALF OF 2020 AMOUNTED TO
€4.9
BILLION, DOWN 17% COMPARED TO THE 1ST HALF OF 2019
    * IN MAINLAND FRANCE, THE ORDER BACKLOG (€3.6 BILLION) IS
DOWN 1%
    * THE ORDER BACKLOG FOR THE INTERNATIONAL AND FRENCH
OVERSEAS
UNITS (€6.5 BILLION) IS UP 2%
    * THE HEALTH CRISIS HAD NO IMPACT ON THE VALUATION OF THE
GROUP'S
NON-CURRENT ASSETS AS OF JUNE 30, 2020

Source text: https://bit.ly/3jhy0ot
Further company coverage:  COLP.PA 

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