Brief: GL Events Q3 Revenue Down At 100.5 Million Euros

GL Events SA

14/10/2020 17:34

Oct 14 (Reuters) - GL EVENTS SA  GLTN.PA :
    * A DECISIVE THOUGH LIMITED RECOVERY IN BUSINESS
    * HAS EUR 250 MILLION IN CASH, TO WHICH MAY BE ADDED AN
ADDITIONAL
EUR 100 MILLION IN FORM OF AN UNDRAWN REVOLVING CREDIT FACILITY
    * Q3 REVENUE EUR 100.5 MILLION VERSUS EUR 253.7 MILLION YEAR
AGO
    * COST SAVINGS PLAN IS EXPECTED TO REACH APPROXIMATELY EUR
170
MILLION AT YEAR-END (UP FROM EUR 130 MILLION ANNOUNCED
PREVIOUSLY)
    * IS LOOKING FORWARD TO AN ACCELERATION IN REBOUND STARTING
IN
2021
    * WE NOW EXPECT A NET LOSS ATTRIBUTABLE TO GROUP
SHAREHOLDERS OF
EUR 65 MILLION AT END OF 2020 (VERSUS. APPROXIMATELY -EUR 50
MILLION ANNOUNCED PREVIOUSLY)
    * HAS ADJUSTED ITS ANNUAL GUIDANCE FOR 2020 REVENUE TO
APPROXIMATELY EUR 500 MILLION (VERSUS EUR 600 MILLION ANNOUNCED
PREVIOUSLY)
    * NEGATIVE IMPACT ON RESULTS OF LAST MINUTE CANCELLATIONS IN
THE
MONTH OF SEPTEMBER AMOUNTED TO APPROXIMATELY €7 MILLION

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

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