Brief: Euro Ressources Q1 Net Profit Up At 5 Million Euros

Euro Ressources SA

11/05/2020 17:25

May 11 (Reuters) - Euro Ressources SA  EURR.PA :
    * Q1 REVENUE 7.2 MILLION EUR VERSUS 5.9 MILLION EUR YEAR AGO
    * Q1 NET PROFIT 5.0 MILLION EUR VERSUS 3.6 MILLION EUR YEAR
AGO
    * Q1 EPS 0.08 EUR VERSUS 0.057 EUR YEAR AGO
    * CASH AT MARCH 31, 2020 TOTALED EUR 36.5 MILLION AS
COMPARED TO
EUR 31.6 MILLION AT DECEMBER 31, 2019
    * EURO'S CASH FLOW IS EXPECTED TO BE PRIMARILY AFFECTED BY
INCOME
TAX PAYMENTS
    * ON CORONAVIRUS: IMPACT OF CRISIS ON COMPANY'S RESULTS WAS
NOT
SIGNIFICANT IN Q1 OF 2020
    * COMPANY MAINTAINS CERTAIN CASH AVAILABLE TO PURSUE
OPPORTUNITIES
THAT WOULD ENHANCE COMPANY'S LONG-TERM BUSINESS
    * ON CORONAVIRUS: ADVERSE EFFECT ON COMPANY COULD BE
SIGNIFICANT
IN FUTURE PERIODS
    * ROSEBEL ROYALTY PRODUCTION IS ANTICIPATED TO BE BETWEEN
180,000
OUNCES AND 200,000 OUNCES IN 2020
    * IN 2020, ROSEBEL ROYALTY IS EXPECTED TO PROVIDE REVENUES
TO
COMPANY OF BETWEEN APPROXIMATELY EUR 18.0 MILLION AND EUR 20.1
MILLION (US$20.1 MILLION AND US$22.5 MILLION)
    * IMPACT OF CHANGES IN AVERAGE GOLD PRICE ON EURO'S ANNUAL
REVENUES, BASED ON AN ESTIMATED PRODUCTION OF 190,000 OUNCES,
WOULD BE APPROXIMATELY US$1.9 MILLION FOR EACH US$100 PER OUNCE
CHANGE IN GOLD PRICE
    * IMPACT OF A 5% CHANGE IN AVERAGE FOREIGN EXCHANGE RATE ON
EURO'S
ANNUAL REVENUES WOULD BE APPROXIMATELY EUR 1.0 MILLION
    * DURING Q1 OF 2020, COMPANY RECORDED OPERATING EXPENSES OF
EUR
0.12 MILLION COMPARED TO EUR 0.14 MILLION DURING SAME PERIOD IN
2019

Source text for Eikon:  ID:nGNE6cn2lW 
Further company coverage:  EURR.PA 

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