Brief: TIE Kinetix H1 Net Income Swings To Profit Of 375,000 Euros

ER Capital Nv

13/05/2020 07:22

May 13 (Reuters) - TIE KINETIX NV  TIEH.AS :
    * TIE KINETIX: VERY STRONG FIRST HALF YEAR 2020
    * BOTH REVENUE AS WELL AS EBITDA CAME IN SIGNIFICANTLY
HIGHER THAN
2019 NUMBERS
    * H1 2020 WITH REVENUE (INCLUDING IFRS 15 ADJUSTMENTS)
AMOUNTING
TO EUR 8.686K (2019: EUR 7.338K)
    * H1 2020 EBITDA (INCL. IFRS 15 ADJUSTMENTS) OF EUR 1.167K
(2019:
EUR -7K), GENERATING A 13% EBITDA MARGIN (2019: 0%)
    * WE ARE PLANNING FOR CUSTOMERS WANTING TO EXTEND PAYMENT
TERMS
    * OUR CASH POSITION IS ROBUST AND OUR STRONG H1 PERFORMANCE
PROVIDES A GOOD FOUNDATION TO ENCOUNTER SUCH ISSUES IN SECOND
HALF YEAR
    * NET INCOME GREW FROM EUR - 772K (H1 FY 2019) TO EUR 375K
(H1 FY
2020)
    * ON COVID-19:  MEASURES IN THE VARIOUS COUNTRIES IN WHICH
WE
OPERATE HAVE NOT AFFECTED OUR H1 NUMBERS, BUT WE DO EXPECT SOME
EFFECTS IN H2, FY 2020
    * ON COVID-19:  WE EXPECT THAT CERTAIN OF OUR CUSTOMERS WILL
BE
HURT SIGNIFICANTLY BY THE COVID-19 MEASURES AND THAT THIS WILL
AFFECT THEIR ABILITY TO COMMIT EARLIER PLANNED INVESTMENTS
    * WE HAVE TEMPORARILY PAUSED PLANNED INVESTMENTS IN GROWTH,
AND
PLAN TO GO FORWARD WITH THESE INVESTMENTS THIS SUMMER, PROVIDED
ECONOMIC CONDITIONS DO NOT DETERIORATE SIGNIFICANTLY - CEO

Source text for Eikon:  ID:nNDL7ZB3hz 
Further company coverage:  TIEH.AS 

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