Brief: GL Events Q1 Revenue Down At 213.3 Million Euros

GL Events SA

21/04/2020 17:12

April 21 (Reuters) - GL EVENTS SA  GLTN.PA :
    * IS IMPLEMENTING ITS COST-CUTTING PLAN, THE SAVINGS WILL BE
IN
EXCESS OF 40 MILLION EUROS OVER THE FINANCIAL YEAR
    * Q1 REVENUE EUR 213.3 MILLION VERSUS EUR 340.2 MILLION YEAR
AGO
    * IN CHINA, THE GROUP'S ACTIVITIES HAVE RESUMED AND THE
TEAMS ARE
NOW OPERATIONAL AND FOCUSED ON THE ORGANIZATION OF FUTURE TRADE
SHOWS
    * CONFIRMS THE ABOLITION OF THE DIVIDEND
    * ON CORONAVIRUS: GROUP ANTICIPATES THAT BUSINESS WILL BE
SEVERELY
AFFECTED IN THE SECOND QUARTER OF 2020
    * IN GENERAL THE GROUP'S INDUSTRIAL ACTIVITIES ARE
CONTINUING
    * MANY SPORTING, CULTURAL AND FESTIVAL EVENTS PLANNED IN
FIRST
HALF OF YEAR AND JULY 2020 HAVE BEEN POSTPONED
    * POSTPONES NUMEROUS INVESTMENTS (CAPEX AND EXTERNAL GROWTH)
TO
THE TUNE OF €60 MILLION

Source text for Eikon:  ID:nNDL6L7PpQ 
Further company coverage:  GLTN.PA 

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