Brief: Navya H1 Net Loss Narrows To EUR 11.3 Mln

Navya SA

23/09/2020 18:17

Sept 23 (Reuters) - Navya SA  NAVYA.PA :
    * H1 REVENUE DECREASED 23% TO 4.7 MILLION EUR
    * STRONG CASH POSITION AT EUR 27.4M AT END OF AUGUST 2020
THANKS
TO A SHARP REDUCTION IN CASH BURN, EUR 4.7M IN H1 2020 VERSUS.
EUR 14.6M IN H1 2019 (-68%)
    * IN FIRST HALF OF 2020, NAVYA GENERATED REVENUES OF EUR 4.7
MILLION, DOWN 23% COMPARED TO FIRST HALF OF 2019
    * OVER PAST SIX MONTHS, CASH CONSUMPTION HAS DECREASED
SIGNIFICANTLY TO EUR 4.7 MILLION, A DECREASE OF 68% COMPARED TO
SAME PERIOD IN 2019
    * ALL IN ALL, OPERATING PROFIT AND NET PROFIT IMPROVED BY
EUR 2.4
MILLION AND EUR 2.5 MILLION RESPECTIVELY TO EUR (10.8) MILLION
AND EUR (11.3) MILLION IN H1.
    * OVER NEXT SIX MONTHS, DEVELOPMENT OF TECHNOLOGY OF NAVYA
SOLUTIONS WILL CONTINUE TO FOCUS ESSENTIAL RESOURCES OF COMPANY
    * TECHNOLOGICAL BREAKTHROUGHS WILL BE PROGRESSIVELY ROLLED
OUT
THROUGH EXPERIMENTS WITH SHUTTLES AND LOGISTICS TRACTORS
    * NAVYA IS WORKING TO EXTEND ITS NETWORK OF DISTRIBUTION
PARTNERS
AND TO PAVE WAY FOR INDUSTRIALIZATION OF ITS SOLUTIONS IN ORDER
TO ACCELERATE MARKET LAUNCH OF LEVEL 4 AUTONOMOUS DRIVING
SYSTEMS
    * IN H1 INSTALLED BASE OF NEARLY 170 AUTONOM® SHUTTLE
VEHICLES, UP
+26% VERSUS. H1 2019

Source text for Eikon:  ID:nBw6lMqLwa 
Further company coverage:  NAVYA.PA 

 (Gdansk Newsroom)
 ((gdansk.newsroom@thomsonreuters.com; +48 58 778 51 10;))