Brief: Nacon FY Sales Up 14.4%, Maintains 2022/23 Targets

Nacon SAS

27/04/2020 17:53

April 27 (Reuters) - NACON SASU  NACON.PA :
    * 2019/20 ANNUAL SALES UP 14.4% TO 129.4 MEUR IN LINE WITH
TARGETS
    * COMPANY WILL DISCLOSE ITS TARGETS FOR FY 2020/2021 WHILE
RELEASING ITS FY 2019/2020 YEAR-END RESULTS ON MAY 25, 2020
    * ON CORONAVIRUS: NO MAJOR DELAY IS ANTICIPATED IN RELEASE
SCHEDULE OF NEW GAMES
    * IS MAINTAINING TARGETS LINKED TO ITS "NACON 2023" PLAN
    * 100 MEUR CASH AVAILABLE THANKS TO SUCCESSFUL IPO
    * DOES NOT ANTICIPATE ANY CASH-FLOW DIFFICULTIES IN COMING
MONTHS,
AS IT HAS SIGNIFICANT CASH RESOURCES RELATED TO ITS RECENT
INITIAL PUBLIC OFFERING WHICH ENABLED IT TO RAISE 109 MEUR IN
MARCH 2020
    * ON CORONAVIRUS: PROCUREMENT OF ACCESSORIES FROM GROUP
SUPPLIERS
HAS RETURNED TO NORMAL
    * COVID-19 CRISIS HAS A DOUBLE IMPACT: NEGATIVE IN SHORT
TERM ON
ACCESSORIES BUT POSITIVE ON DIGITAL SALES OF GAMES
    * ON COVID-19 DOUBLE IMPACT: CUMULATIVE EFFECT BEING
SLIGHTLY
NEGATIVE IN TERMS OF TURNOVER BUT POSITIVE IN TERMS OF OPERATING
PROFIT GIVEN HIGHER DIGITAL MARGINS
    * MAINTAINS TARGETS OF BETWEEN EUR 180 AND EUR 200 MILLION
IN
SALES AND A CURRENT OPERATING MARGIN IN EXCESS OF 20% FOR
2022/23 FINANCIAL YEAR
    * SHOULD EXCEED ITS TARGET OF CURRENT OPERATING MARGIN OF
16% FOR
2019/20 FINANCIAL YEAR

Source text for Eikon:  ID:nGNE7MbbJn 
Further company coverage:  NACON.PA 

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