Brief: Italia Independent Group Approves Development Plan For 2019-2023

IIG SpA in Liquidazione

31/10/2019 07:06

Oct 31 (Reuters) - Italia Independent Group  IINT.MI :
    * REPORTED ON WEDNESDAY THAT BOARD HAS APPROVED THE
DEVELOPMENT
PLAN OF THE COMPANY FOR 2019-2023
    * PLAN ESTIMATES REVENUE GROWTH OF UP TO EUR 42 MILLION IN
THE
PERIOD UNDER REVIEW
    * PLAN PROVIDES FOR REDUCTION IN STRUCTURAL COSTS AND
OPERATING
SAVINGS OF AROUND EUR 1.7 MILLION STARTING IN THE SECOND YEAR
    * PLAN PROVIDES FOR RETURN TO POSITIVE EBITDA (+3.2 MILLION
EUROS)
AND TO PROFIT (+1 MILLION EUROS) STARTING FROM FY 2021
    * BOARD HAS ASKED SINGLE CO'S SHAREHOLDER TO TAKE THE
APPROPRIATE
DECISIONS IN ORDER TO PROVIDE COMPANY WITH THE FINANCIAL
RESOURCES NECESSARY TO COVER THE LOSSES AND
TO IMPLEMENT PLAN FOR 2019-2023 

    
 Source text for Eikon:  urn:newsml:reuters.com:*:nBIA1j5qqp
    
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