Brief: Colas Q1 Current Operating Loss Widens To 370 Million Euros

COLAS SA

14/05/2020 07:09

May 14 (Reuters) - COLAS SA  COLP.PA :
    * Q1 ORDER BACKLOG: €10.0 B, UP 3% AFTER RESTATEMENT TO
REFLECT
MAIN ACQUISITIONS AND DIVESTMENTS, AND AT CONSTANT EXCHANGE
RATES
    * Q1 REVENUE: €2.0 B (-14% AND -10% AT CONSTANT SCOPE AND
EXCHANGE
RATES)
    * Q1 CURRENT OPERATING PROFIT: -€370 M (-€72 M)
    * ON COVID-19:  FOLLOWING THE LOCKDOWN MEASURES TAKEN BY THE
FRENCH GOVERNMENT, ALL CONSTRUCTION SITES AND PRODUCTION SITES
IN FRANCE WERE STOPPED AS OF MARCH 17
    * ON COVID-19:  ACTIVITY ALSO SLOWED SHARPLY IN BELGIUM AND
SWITZERLAND DURING THE SECOND HALF OF MARCH
    * Q1 NET PROFIT ATTRIBUTABLE TO THE GROUP: -€300 M
    * THE IMPACT OF THE CRISIS ON CURRENT OPERATING PROFIT IS
ESTIMATED AT AROUND -€75 MILLION (LOSS OF CURRENT OPERATING
PROFIT MARGIN AND UNAVOIDABLE COSTS)
    * THE IMPACT OF THE COVID-19 PANDEMIC ON COLAS' BUSINESS AND
RESULTS SHOULD BE STRONGER IN THE 2ND QUARTER
    * IT IS STILL TOO EARLY TO FORMULATE OUTLOOK FOR 2020 AS A
WHOLE

Source text for Eikon:  ID:nNDL15qmL3 
Further company coverage:  COLP.PA 

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