Brief: Parrot FY Net Loss Group Share Narrows To 29.6 Million Euros

Parrot SA

19/03/2020 06:42

March 19 (Reuters) - PARROT SA  PARRO.PA :
    * FY REVENUE EUR 76.1 MLN VS EUR 109.2 MLN YR AGO
    * FY NET LOSS GROUP SHARE EUR 29.6 MLN VS LOSS EUR 111.2 MLN
YR
AGO
    * IN 2020, THE GROUP WILL CONTINUE TO FOCUS ON CASH
MANAGEMENT AND
EFFICIENT ALLOCATION OF THESE RESOURCES BASED ON THE BEST MARKET
OPPORTUNITIES
    * FY RECURRING OPERATING LOSS EUR 28.4 MLN VS LOSS OF EUR
65.9 MLN
YR AGO
    * ON CORONAVIRUS CRISIS: GROUP HAS NOT AT THIS STAGE
EXPERIENCED
ANY ISSUES WITH PRODUCTION (ONLY PARROT BRAND DRONES ARE
CURRENTLY PRODUCED IN CHINA) OR ALLOCATION OF COMPONENTS
    * OUTLOOK: IT CONSIDERS THAT IT HAS APPROPRIATE STOCKS IN
PLACE
FOR ITS BUSINESS DEVELOPMENT PLAN OVER FIRST HALF OF 2020
    * OUTLOOK: FINANCIAL FORECASTS COULD BE SPECIFIED ONCE
CURRENT
HEALTH CRISIS HAS ENDED
    * GROUP RECORDED CONSOLIDATED REVENUES OF €76.1M IN 2019.
    * SEES IN 2020: GROUP’S PROGRESS ON THE SECURITY AND DEFENSE
MARKET AND PRODUCT LAUNCHES
    * OUTLOOK: GROUP EXPECTS TO MAKE PROGRESS WITH ITS PROJECTS
IN
DEFENSE AND SECURITY SECTOR, WHILE CONTINUING TO ROLL OUT A
SALES STRATEGY TARGETING PROFESSIONALS, BUSINESSES, KEY ACCOUNTS
AND GOVERNMENTS
    * 2019 NET CASH CONSUMPTION WAS REDUCED TO EUR 35.2M,
INCLUDING
EUR 13.4M FOR H2 2019, COMPARED WITH EUR 65.3M IN 2018
    * OUTLOOK: GROUP REMAINS FOCUSED ON MOVING FORWARD WITH ITS
PROJECTS IN 2020 AND VIGILANT CONCERNING POTENTIAL IMPACT OF
HEALTH MEASURES ON THEIR FINALIZATION

Source text for Eikon:  ID:nGNE8KTWKh 
Further company coverage:  PARRO.PA 

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