Brief: Solocal Group Q1 Revenues Down At EUR 126.1 Mln, 2020 Growth Guidance Challenged

Solocal SE

22/04/2020 18:24

April 22 (Reuters) - SOLOCAL GROUP SA  LOCAL.PA :
    * Q1 2020 ACTIVITY AND REVENUES
    * DIGITAL REVENUES DOWN 7.4% IN Q1 2020
    * BEGINNING OF 2020 IN LINE WITH THE EXPECTED PATH
    * DIGITAL ORDER INTAKE5 DECREASE BY 70% SINCE THE ONSET OF
THE
LOCKDOWN
    * OUTLOOK: 2020 FY GROWTH GUIDANCE CHALLENGED
    * OUTLOOK 2020 : € 360 MILLION DIGITAL REVENUES ALREADY
SECURED
FOR FY
    * Q1 DIGITAL ORDER BACKLOG DOWN -3.0% VERSUS. 31 ST DEC 2019
    * CONSOLIDATED REVENUES: € 126 MILLION, -11.5%
    * 2020 DIGITAL ORDER INTAKE EXPECTED TO DECREASE BY OVER €
100
MILLION VERSUS. 2019FY
    * OUTLOOK 2020: COST REDUCTION PLAN AND ACTIVATION OF
GOVERNMENT
SUPPORT MEASURES
    * COVID-19: AS A LOT OF OTHER COMPANIES, IT LED US TO
SUSPEND OUR
GUIDANCE FOR THE CURRENT YEAR
    * THE MEMBERS OF THE BOARD AND THE CEO HAVE DECIDED A -25%
REDUCTION OF COMPENSATION DURING THE LOCKDOWN PERIOD
    * AS AT 31ST MARCH 2020, THE CASH POSITION OF THE GROUP
AMOUNTS TO
€ 17 MILLION
    * THE TOTAL ORDER BACKLOG AMOUNTS TO € 346 MILLION AS AT
31ST
MARCH 2020
    * IMPACT OF REDUCTION IN BUSINESS ACTIVITY OVER MARCH, APRIL
AND
MAY WILL RESULT IN MECHANICAL DECREASE OF AT LEAST -20% IN
REVENUES FOR THE CURRENT YEAR

Source text : https://bit.ly/2VOyOXX
Further company coverage:  LOCAL.PA 

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