Brief: MGI Digital Technology FY Net Income Group Share Grows To EUR 14.3 Mln

Mgi Digital Technology SA

06/04/2020 07:55

April 6 (Reuters) - Mgi Digital Technology SA  ALMDG.PA :
    * FY NET INCOME GROUP SHARE EUR 14.3 MILLION VERSUS EUR 12.5
MILLION YEAR AGO
    * ON CORONAVIRUS: RELIES ON A SOLID FINANCIAL SITUATION
ENABLING
IT TO MEET ALL CHARGES AND EXPENSES FOR CURRENT YEAR
    * END-FY FINANCIAL DEBT REMAINS LIMITED TO €10 MILLION AND
CASH
INCREASED BY MORE THAN 52% TO €40.8 MILLION
    * ON CORONAVIRUS: THE THREE FRENCH SITES WERE CLOSED AND
SHORT-TIME WORKING MEASURES WERE IMPLEMENTED FOR EMPLOYEES
CONCERNED
    * FY GROSS MARGIN UP 10.4% TO EUR 43.5 MILLION
    * FY OPERATING INCOME EUR 20.2 MILLION VERSUS EUR 17.9
MILLION
YEAR AGO
    * ON CORONAVIRUS: THE GERMAN INDUSTRIAL SITE (KORA PACKMAT)
CONTINUES TO OPERATE AT NORMAL PRODUCTION CAPACITY WITHOUT
SUPPLY PROBLEMS
    * REAFFIRMS ITS CONFIDENCE IN ITS ABILITY TO GET THROUGH THE
CRISIS AND QUICKLY RETURN TO ITS GROWTH PATH AS SOON AS THE
SITUATION RETURNS TO NORMAL
    * LOW LEVEL OF INDEBTEDNESS (€10 MILLION AT END-DEC 2019)
WOULD
ALSO ALLOW RECOURSE TO NEW BANK LOANS ON ATTRACTIVE TERMS IF
EVOLUTION OF SITUATION JUSTIFIES IT
    * CORONAVIRUS AND CONTAINMENT MEASURES HAVE SIGNIFICANT
IMPACT ON
GROUP'S ACTIVITY WITH DELAY IN CONDITIONAL INVOICING ON DELIVERY
OF EQUIPMENT
    * CAN LOOK FORWARD TO RAPID RECOVERY OF ORDERS WITH KONICA
MINOLTA
AND RETURN TO STRONG BUSINESS MOMENTUM AS SOON AS INTERNATIONAL
BUSINESS RETURNS TO NORMAL

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