Brief: Showroomprive.Com Sees Sharper Than Expected Decline In H2 Revenues

SRP Groupe SA

20/12/2019 07:08

Dec 20 (Reuters) - SRP GROUP SA  SRPG.PA :
    * ANNOUNCED ON THURSDAY SHOWROOMPRIVÉ'S 2019 SECOND HALF
BUSINESS
REVIEW
    * RATIONALIZATION AND COST OPTIMIZATION ACTIONS WILL ALLOW A
SIGNIFICANT IMPROVEMENT OF H2 EBITDA COMPARED TO H1
    * GROUP WILL HOWEVER NOT REACH ITS OBJECTIVE OF BEING
PROFITABLE
IN H2 DUE TO LESS DYNAMIC THAN ANTICIPATED ACTIVITY
    * Q4, WHICH HAS ALWAYS HAD DECISIVE IMPACT ON GROUP
PERFORMANCE,
WAS HIT BY ADVERSE ECONOMIC AND SOCIAL CONDITIONS
    * SAYS LEVEL OF COMMERCIAL ACTIVITY WAS NEGATIVELY IMPACTED
BY
STRATEGIC DECISIONS AIMED AT IMPROVING MEDIUM-TERM PROFITABILITY
    * SHOWROOMPRIVÉ IS NOW FORECASTING SHARPER THAN EXPECTED
DECLINE
IN H2 REVENUES
    * GROUP ANTICIPATES THAT AMOUNT OF ITS EBITDA LOSS FOR H2
WILL BE
SIGNIFICANTLY LOWER THAN THE LOSS RECORDED FOR H1 2019

    
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