Brief: Orege FY Net Loss Narrows To 10.2 Million Euros

Orege SA

15/06/2020 06:08

June 15 (Reuters) - Orege SA  OREGE.PA :
    * OPERATIONAL ACTIVITY IN FIRST HALF OF 2020 HAS BEEN
SIGNIFICANTLY IMPACTED BY COVID 19 CRISIS
    * ALL PROJECTS IN EXECUTION (15 SIGNED CONTRACTS) WERE
STOPPED
EITHER IN FEBRUARY (JAPAN AND LOMBARDY-ITALY) OR IN MARCH
    * HAS RESUMED EXECUTION OF 4 PROJECTS IN JUNE AND
ANTICIPATES
RESUMPTION OF MOST OF OTHER PROJECTS OVER COURSE OF SUMMER AS
AND WHEN BORDERS REOPEN, AIR TRAVEL BECOMES POSSIBLE AGAIN AND
CUSTOMERS AUTHORIZE OUR TEAMS TO BE ABLE TO RESUME PROJECT
EXECUTION ON THEIR SITES
    * FY NET LOSS EUR 10.2 MILLION VERSUS LOSS EUR 10.9 MILLION
YEAR
AGO
    * AT 31 DECEMBER 2019, GROUP HAD 237 KEUR OF CASH AND CASH
EQUIVALENTS (321 KEUR AT 31 DECEMBER 2018)
    * FY OPERATING LOSS EUR 8.3 MILLION VERSUS LOSS EUR 8.5
MILLION
YEAR AGO
    * THESE 15 CONTRACTS UNDER EXECUTION REPRESENT SOME EUR 5
MILLION
OF TURNOVER, OF WHICH EUR 3 MILLION SHOULD BE RECORDED AND
CASHED IN DURING 2020
    * FY REVENUE EUR 0.9 MILLION VERSUS EUR 2.3 MILLION YEAR AGO
    * FY FINANCIAL DEBT TOTALED 17 849 KEUR
    * BALANCE WOULD BE RECORDED AND CASHED IN OVER FOLLOWING
YEARS
(LEASING, LONG-TERM RENTAL, OR GAIN SHARING
    * OUTLOOK: GROWING RECOGNITION OF EFFICIENCY AND
EFFECTIVENESS OF
ITS SLG® SOLUTIONS, ACCELERATION OF THEIR COMMERCIAL DEPLOYMENT
IN HIGH-POTENTIAL REGIONAL MARKETS
    * OUTLOOK: CREATION OF AN INCREASINGLY LARGE INSTALLED BASE
GENERATING RECURRENT REVENUES AND PROVIDING STRONG, VISIBLE
INDUSTRIAL REFERENCES
    * STRATEGIC WORLDWIDE COMMERCIAL PARTNERSHIP WAS SIGNED ON
JUNE 12
2020 WITH SCANDINAVIAN GROUP ALFA LAVAL

Source text for Eikon:  ID:nGNE7yzpQZ 
Further company coverage:  OREGE.PA 

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