Brief: Jacquet Metal Service H1 EBITDA Down At EUR 19 Mln

Jacquet Metals SA

09/09/2020 17:44

Sept 9 (Reuters) - JACQUET METAL SERVICE SA  JCQ.PA :
    * FIRST HALF 2020 RESULTS
    * H1 SALES EUR 726 MILLION VERSUS EUR 884 MILLION YEAR AGO
    * H1 EBITDA EUR 19 MILLION VERSUS EUR 47 MILLION YEAR AGO
    * IN STILL UNCERTAIN MACROECONOMIC AND HEALTH ENVIRONMENT,
GROUP
DOES NOT EXPECT TO SEE A SIGNIFICANT IMPROVEMENT OVER THE COMING
WEEKS AND MONTHS
    * H1 NET LOSS GROUP SHARE EUR 15 MILLION VERSUS PROFIT EUR
18
MILLION YEAR AGO
    * SAVINGS PLANS  IMPLEMENTED IN ALL DIVISIONS SHOULD
GENERATE
FULL-YEAR SAVINGS OF AROUND €8 MILLION
    * H1 OPERATING CASH FLOW: €81M 
    * WITH A NET DEBT TO EQUITY RATIO (GEARING) OF 38% (46% AT
2019
YEAR-END AND 57% AT 2018 YEAR-END), €397 MILLION OF CASH AND
SUBSTANTIAL LINES OF CREDIT (€739 MILLION, €210 MILLION OF WHICH
IS UNDRAWN), THE GROUP IS IN A SOLID FINANCIAL POSITION TO
WEATHER THE PRESENT SITUATION
    * GROUP IS IN A SOLID FINANCIAL POSITION TO WEATHER THE
PRESENT
SITUATION
    * IN FRANCE, THE GROUP HAS NOT REQUESTED A PAYMENT EXTENSION
FOR
TAXES AND LEVIES AND HAS NOT TAKEN OUT ANY LOANS GUARANTEED BY
THE FRENCH STATE.
    * IN JUNE 2020 MATURITY OF THE €125 MILLION SYNDICATED LOAN
(€110
MILLION UNDRAWN) WAS EXTENDED BY ONE YEAR TO JUNE 2023

Source text: https://bit.ly/32dznin
Further company coverage:  JCQ.PA 

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