Brief: CFE Expects Decrease Of 2020 Revenue Due To Coronavirus

Compagnie dentreprises CFE SA

31/03/2020 18:35

March 31 (Reuters) - AANNEMINGSMAATSCHAPPIJ CFE NV
 CFEB.BR :
    * IMPACT OF THE COVID-19 PANDEMIC
    * ON CORONAVIRUS: THE ACTIVITIES OF DEME ARE IMPACTED BY THE
SECLUSION MEASURES, BORDER CLOSURES AND THE DISRUPTION OF
CERTAIN SUPPLY CHAINS
    * ANTICIPATES DECREASE OF ITS REVENUE, CASH FLOW AND RESULTS
IN
2020, WITHOUT HOWEVER BEING ABLE TO QUANTIFY FINANCIAL IMPACT ON
GROUP’S ACCOUNTS
    * HAS SUBSTANTIAL CASH RESERVES, WITH AVAILABLE CASH AND
UNUSED
CONFIRMED CREDIT LINES TOTALLING NEARLY € 0.9 BILLION AS AT
DECEMBER 31, 2019
    * ON CORONAVIRUS: THOSE MEASURES WILL HAVE A CONSIDERABLE
IMPACT
ON REVENUE AND ORDER INTAKE, WITHOUT THE FINANCIAL IMPACT ON THE
RESULTS BEING QUANTIFIABLE AS YET
    * CFE GROUP REMAINS SOLID AND HAS ALL RESOURCES AND
STRENGTHS TO
RECOVER FROM THIS HEALTH CRISIS
    * THE SALE OF THE 12.5% STAKE IN MERKUR OFFSHORE IS STILL
PLANNED
FOR THE SECOND QUARTER OF 2020
    * ON CORONAVIRUS: IN CONTRACTING, THE EXECUTION OF THE
CONSTRUCTION SITES IN BELGIUM AND LUXEMBOURG HAS BEEN SUSPENDED
SINCE 18 MARCH, WHEREAS IN POLAND ACTIVITY CONTINUES AT A LOWER
LEVEL

Source text: https://bit.ly/2JpKKcS
Further company coverage:  CFEB.BR 

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