Brief: EuropaCorp Files For 2-Year Safeguard Plan Extension Due To COVID-19

EuropaCorp SA

31/12/2020 06:16

Dec 31 (Reuters) - EuropaCorp  ECP.PA :
    * REPORTED ON WEDNESDAY H1 2020/2021 REVENUE OF EUR 26.2
MLN,
DECREASING EUR 14.5 MLN Y/Y
    * H1 OPERATING PROFIT OF EUR 2.1 MLN VERSUS LOSS OF EUR 1.7
MLN
YEAR AGO
    * H1 NET INCOME GROUP SHARE OF EUR 123.5 MLN VERSUS LOSS OF
EUR
22.7 MLN YEAR AGO
    * AT SEPTEMBER 30, 2020, NET CASH FLOW OF NEGATIVE EUR 3.9
MLN
MILLION, COMPARED TO POSITIVE EUR 11.8 MILLION AT SEPTEMBER 30,
2019
    * COMPANY HAS TO THIS DAY NOT BEEN IMPACTED MUCH BY THE
COVID-19
EPIDEMIC
    * GROUP CURRENTLY HAS SEVERAL PROJECTS READY TO BEGIN
PRODUCTION
BUT THE EVOLVING HEALTH SITUATION MAKES IT DIFFICULT TO ORGANISE
PRODUCTION
    * SEVERAL PROJECTS OF FILMS WITH A START OF PRODUCTION
PLANNED
DURING AUTUMN 2020 HAVE BEEN DELAYED TO SPRING 2021
    * JUDICIAL REPRESENTATIVES PRESENTED ON DECEMBER 14 A
JUDICIAL
REQUEST TO THE COMMERCIAL COURT OF BOBIGNY TO EXTEND DURATION OF
THE SAFEGUARD PLAN BY AN ADDITIONAL TWO YEARS
    * TOTAL DURATION OF THE SAFEGUARD PLAN WOULD THEN BE 9 YEARS
FROM
JULY 24, INVOLVING A NEW REPAYMENT SCHEDULE
    * OTHER TERMS AND CONDITIONS OF THE PLAN WHICH ARE NOT IN
CONTRADICTION WITH THE FOREGOING WOULD REMAIN UNMODIFIED

    
 Source text for Eikon:  urn:newsml:reuters.com:*:nNDL8hNn1c
    
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