Brief: Montagne Et Neige Developpement FY Adjusted Ebitda Loss Widens To 31.9 Million Euros

Montagne et Neige Developpement SA

02/11/2020 09:12

Nov 2 (Reuters) - MONTAGNE ET NEIGE DEVELOPPEMENT SA
 ALMND.PA :
    * ANNOUNCED ON FRIDAY FY ADJUSTED EBITDA LOSS OF EUR 31.9
MLN VS
LOSS OF EUR 20.7 MLN YR AGO
    * FY NET LOSS OF EUR 57.8 MLN VS LOSS OF EUR 57.4 MLN YR AGO
    * AS OF JUNE 30, 2020, CONSOLIDATED SHAREHOLDERS' EQUITY AT
-52.4
M€ VS -29.5 M€ AT END-JUNE 2019
    * NET FINANCIAL DEBT (EXCLUDING IFRS 16 RENTAL DEBTS) WAS
€74.9M
AT END-JUNE 2020 VS €65.9M AT END-JUNE 2019
    * GROUP GENERATED POSITIVE CASH FLOW OF €22.1 MILLION DURING
THE
FINANCIAL YEAR 2019/2020
    * FY 2019/2020 RESULTS WERE MAINLY IMPACTED BY NON-RECURRING
COSTS, OF WHICH €18M HAD NO CASH IMPACT
    * COMPANY HAS REVIEWED LIQUIDITY RISK AND CONSIDERS THAT TO
BE IN
A POSITION TO FINANCE ITS ACTIVITIES
    * AS OF SEPTEMBER 30, 2020, GROUP'S FIRM ORDER BOOK STOOD AT
€56.1
MILLION, INCREASE OF +31% SINCE END-JUNE
    * GROUP'S OBJECTIVE IS TO RETURN TO NORMAL OPERATING
BREAKEVEN
(ADJUSTED EBITDA) AS OF THE FINANCIAL YEAR 2020/2021, WHICH WILL
END ON JUNE 30, 2021
    * WE ARE NOW READY TO EXECUTE ALL OUTSTANDING CUSTOMER
ORDERS AND
RETURN TO OPERATIONAL EQUILIBRIUM BY 2020/2021 BEFORE INCREASING
OUR PERFORMANCE IN THE FOLLOWING YEARS-CEO

    
 Source text: https://bit.ly/2HSutQc
    
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