Brief: Fermentalg Q1 Sales Rise To 0.6 Million Euros

Fermentalg SA

11/05/2020 11:48

May 11 (Reuters) - FERMENTALG SA  FALG.PA :
    * Q1 PRODUCT SALES EUR 595K VERSUS EUR 88K YEAR AGO
    * COMMISSIONING OF A NEW CARBON SINK AS PART OF THE
PARTNERSHIP
WITH SUEZ
    * ON CORONAVIRUS: PANDEMIC DID NOT INTERRUPT THE WORK OF
SUBCONTRACTORS
    * COVID-19: PRODUCT LAUNCH DECISIONS AND SCHEDULES AND LEVEL
OF
CONSUMPTION IN MAJOR MARKETS LIKE NORTH AMERICA WILL LIKELY BE
AFFECTED
    * BUSINESS ACTIVITY IS DISRUPTED BY DIFFERENT CONTAINMENT
MEASURES
IN TERMS OF DELIVERY OF PRODUCTS AND SAMPLES AND AT LEVEL OF
COMMERCIAL PROSPECTING (CANCELLATION OF MAIN TRADE SHOWS)
    * TOO EARLY TO MEASURE ALL IMPACTS OF COVID-19 EPIDEMIC ON
FISCAL
YEAR 2020 AND BEYOND
    * DIFFICULTIES DUE TO COVID-19 AFFECT NEGATIVELY SALES
EVOLUTION
SINCE THE END OF Q1
    * IN ORDER TO CONSOLIDATE ITS GROSS CASH POSITION (€5.9
MILLION AT
THE END OF MARCH 2020 COMPARED TO €8.0 MILLION AT THE END OF
2019) HAS APPLIED FOR AND OBTAINED APPROVAL FOR A €1 MILLION 
LOAN FROM BPIFRANCE
    * HAS STARTED DISCUSSIONS WITH KEPLER CHEVREUX FOR RENEWAL
AND
EXTENSION OF ITS EQUITY FINANCING LINE, FOR AROUND EUR 10
MILLION

Source text for Eikon:  ID:nACT63426 
Further company coverage:  FALG.PA 

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