Brief: Makheia Group FY Recurring Operating Loss Widens To EUR 4 Mln

Netmedia SA

08/05/2020 13:45

May 8 - MAKHEIA GROUP SA  ALMAK.PA :
    * REPORTED ON THURSDAY 2019 GROSS MARGIN LOWERD Y-O-Y
    * FY GROSS MARGIN EUR 10.8 MLN
    * FY RECURRING OPERATING LOSS EUR 4.0 MLN VS LOSS EUR 0.8
MLN YR
AGO
    * END-FY CONSOLIDATED EQUITY EUR 10 MLN VS EUR 23 MLN AT
DECEMBER
31, 2018
    * COVID-19: OPERATIONS POSTPONEMENT OR CANCELLATION
CURRENTLY
LIMITED
    * SALARY COSTS REDUCTION: GROUP EXPECTS PAYROLL TO REACH EUR
7.1
MLN IN 2020, DOWN EUR 3.5 MLN OVER TWO YEARS
    * BOARD OF DIRECTORS TO PROPOSE SHARE CAPITAL REDUCTION:
PART OF
FY LOSS ALLOCATION BY REDUCING NOMINAL VALUE OF SHARE
    * AGREEMENT BEING FINALISED WITH CONVERTIBLE BONDS HOLDER TO
SUBSCRIBE TO CAPITAL INCREASE
    * IF APPROVED, AGREEMENT INCLUDES ONE-YR DELAY IN TRANCHE
REPAYMENT
    * HAS GATHERED PARISIAN ACTIVITIES AT SAME ADDRESS, REDUCING
RENT
OF AROUND EUR 0.4 MLN FOR 2020

    
 Source text for Eikon:  ID:nNDL60b4kL 
 Further company coverage:  ALMAK.PA