Brief: Engie EPS FY Net Loss Widens To 14.6 Million Euros

Nhoa SA

20/03/2020 09:18

March 20 (Reuters) - ENGIE EPS SA  EPS.PA :
    * SAID ON THURSDAY ITS FY REVENUE WAS EUR 19.7 MLN VS EUR
15.5 MLN
YEAR AGO
    * FY EBITDA LOSS EUR 5.7 MLN VS LOSS EUR 4.6 MLN YEAR AGO
    * FY NET LOSS EUR 14.6 MLN VERSUS EUR 8.7 MLN YEAR AGO 
    * FY NET CASH AND CASH EQUIVALENTS AT THE END OF THE PERIOD
EUR
6.4 MLN VERSUS 10.9 YEAR AGO
    * PROJECT BACKLOG AS OF March 19 AMOUNTS TO EUR 29.5
MILLION, DOWN
18% COMPARED TO THE REVISED PROJECT BACKLOG COMMUNICATED ON 21
JUNE 2019 DUE REDUCTION IN ORDER INTAKE 
    * PIPELINE IS UP 127% AS OF MARCH 19, REACHING EUR 686
MILLION
    * SOME PROJECTS WERE NOT AWARDED TO ENGIE, LIKE THE TENDER
FOR NEW
CAPACITY IN FRANCE, CERTAIN OTHERS ARE BEING DELAYED AND OTHERS
HAVE NOT MATERIALIZED FOR ENGIE EPS
    * GROSS MARGIN STANDS AT 26.5%, COMPARED TO 30% IN 2018,
MAINLY
DUE TO THE LOWER MARGINS OF THE PROJECT IN MEXICO
    * CORONAVIRUS OUTBREAK IS IMPACTING BOTH THE INDUSTRIAL
OPERATIONS
OF ENGIE EPS AND ITS SHORT-TERM BUSINESS PROSPECTS BUT IT IS
STILL TOO EARLY TO ASSESS ITS FULL IMPACT
    * ENGIE EPS' OPERATIONS AND THE MAJORITY OF THE SUPPLY CHAIN
ARE
BASED IN ITALY, THE COUNTRY CURRENTLY AT THE EPICENTER OF THE
EUROPEAN OUTBREAK
    * TRAVEL RESTRICTIONS ALL OVER THE WORLD ARE LIMITING THE
ABILITY
TO ENGIE EPS TO MATERIALIZE ITS PROJECT DEVELOPMENT EFFORT,
PARTICULARLY IN LARGE TENDER PROCESSES
    * DECIDES NOT TO CONFIRM 2020 REVENUE GUIDANCE GIVEN THE
CURRENT
HIGHLY VOLATILE CIRCUMSTANCES, CANNOT COMMIT TO AN ALTERNATIVE
2020 TARGET
    * ENGIE EPS WILL UPDATE IF NECESSARY THIS GUIDANCE ONCE THE
COVID-19 SITUATION HAS BEEN OVERCOME
    * REMAINS COMMITTED TO THE IMPLEMENTATION OF THE LONG TERM
STRATEGIC PLAN AND ITS 2025 EUR 400 MILLION REVENUE INDICATIVE
AMBITION

       
 Source text for Eikon: urn:newsml:reuters.com:*:nBw7kj3t4a
    
 Further company coverage:  EPS.PA  
   


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