Brief: Parrot H1 EBIT Loss Widens To 20.9 Million Euros

Parrot SA

31/07/2020 07:10

July 31 (Reuters) - Parrot SA  PARRO.PA :
    * CONTINUITY OF OPERATIONS AND ROADMAP RESPECTED DESPITE
PANDEMIC
    * H1 NET LOSS GROUP SHARE EUR 22.1 MILLION VERSUS LOSS OF
EUR 13.8
YEAR AGO
    * AT JUNE 30, 2020, NET CASH REPRESENTS EUR 105.1M
    * H1 EBIT LOSS EUR 20.9 MILLION VERSUS LOSS OF EUR 13.2
MILLION
YEAR AGO
    * H1 REVENUE EUR 26.5 MILLION VERSUS EUR 39.7 MILLION YEAR
AGO
    * GROUP DOES NOT EXPECT ACTIVITY TO PICK UP AGAIN OVER
SECOND HALF
OF YEAR, AS CERTAIN MARKETS, INCLUDING AGRICULTURAL SECTOR,
BENEFIT FROM STRONGER SEASONALITY AT START OF YEAR
    * CURRENT OPERATING EXPENDITURE CAME TO €40.1M FOR H1,
COMPARED
WITH €38.3M FOR SAME PERIOD IN 2019
    * HAS NOT AT THIS STAGE ENCOUNTERED ANY SIGNIFICANT ISSUES
IN
TERMS OF SOURCING SUPPLIES, PRODUCTION OR OPERATIONS
    * 2020: GROUP NOTABLY EXPECTS TO MAKE PROGRESS WITH ITS
PROJECTS
IN DEFENSE AND SECURITY SECTOR

Source text for Eikon:  ID:nNDL1qPCj0 
Further company coverage:  PARRO.PA 

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