Brief: Parrot Announces Horizon's Proposed Public Tender Offer And Estimated Earnings For 2018

Parrot SA

29/01/2019 07:06

Jan 29 (Reuters) - PARROT SA  PARRO.PA :
    * HORIZON’S PROPOSED PUBLIC TENDER OFFER FOR PARROT
SECURITIES:
BOARD OF DIRECTORS’ REASONED OPINION ESTIMATED REVENUES AND
EARNINGS FOR 2018
    * PARROT'S ESTIMATED REVENUES FOR Q4 OF 2018 REPRESENT 31
MILLION
EUROS, COMPARED WITH A TARGET OF 35 MILLION EUROS
    * THIS WOULD GIVE FULL-YEAR REVENUES OF 109 MILLION EUROS,
DOWN
28% FROM 2017
    * AT DECEMBER 31, 2018, CASH AND CASH EQUIVALENTS REPRESENT
APPROXIMATELY 151 MILLION EUROS, WITH AROUND 160 MILLION EUROS
OF NET CASH
    * GROSS MARGIN FOR 2018 IS APPROXIMATELY 33%, COMPARED WITH
34%
FOR 2017
    * CURRENT OPERATING EXPENDITURE FOR THE YEAR REPRESENTS
AROUND 95
MILLION EUROS, APPROXIMATELY 3.0 MILLION EUROS LESS THAN 2017
    * CURRENT OPERATING EXPENDITURE FOR YEAR REPRESENTS AROUND
95
MILLION EUROS, APPROXIMATELY 3.0 MILLION EUROS LESS THAN 2017
    * 2018 OPERATING LOSS OF 65 MILLION EUROS, VERSUS 57.6
MILLION
EUROS IN 2017
    * BASED ON THESE ELEMENTS, PARROT IS EXPECTED TO HAVE AROUND
100
MILLION EUROS OF CASH AND AN OUTSTANDING PORTFOLIO OF COMPANIES
AND INTERESTS AT END OF 2019.
    * AT DECEMBER 31, 2018, CASH AND CASH EQUIVALENTS REPRESENT
ABOUT 
151 MILLION EUROS, WITH AROUND 160 MILLION EUROS OF NET CASH
    * NEGATIVE IMPACT OF INVESTMENTS IN ASSOCIATES AND TAXES ARE
STILL
BEING RECORDED IN ACCOUNTS TO REACH NET PROFIT OR LOSS FIGURE
    * 2018 NON-CURRENT EXPENDITURE REPRESENTS AROUND 38 MILLION
EUROS
    * BOARD OF DIRECTORS ACKNOWLEDGED UNCERTAIN NATURE OF
FORECASTS
PREPARED BY GROUP
    * EXPECTS TO HAVE AROUND 100 MILLION EUROS OF CASH AND AN
OUTSTANDING PORTFOLIO OF COMPANIES AND INTERESTS AT THE END OF
2019.

Source text for Eikon:  ID:nGNE8CBt1y 
Further company coverage:  PARRO.PA 

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