Brief: SRP Groupe FY Net Loss Widens To 70.5 Million Euros

SRP Groupe SA

12/03/2020 17:54

March 12 (Reuters) - SRP GROUPE SA  SRPG.PA :
    * SHOWROOMPRIVE.COM: ANNUAL RESULTS 2019 - SHARP IMPACT OF
EXCEPTIONAL OPERATIONS ON STOCK (LARGE CLEARANCE AND
DEPRECIATION)
    * OUTLOOK: NEW GROWTH DRIVERS DEVELOPED, ESPECIALLY IN SRP
MEDIA
    * FY REVENUES WERE DOWN -8.4% (-8.0% FOR ONLINE ACTIVITIES)
    * OUTLOOK: CONTINUATION OF PLAN WITH AIM OF REDUCING
OPERATING
COSTS WITH A STRONG FOCUS ON LOGISTICSAND G&AEXPENSES
    * OUTLOOK: ACTIONS INITIATED CONCERNING PRODUCT OFFERING,
DESIGNED
TO IMPROVE BUSINESS TREND
    * OUTLOOK: ACTIONS INITIATED CONCERNING PRODUCT OFFERING,
DESIGNED
TO IMPROVE BUSINESS TREND
    * FY NET LOSS EUR 70.5 MILLION VERSUS LOSS OF EUR 4.4
MILLION YEAR
AGO
    * END-FY GROSS CASH AND CASH EQUIVALENTS OF EUR 49.0MILLION
    * FY NET FINANCIAL DEBT OF EUR 29.3MILLION (OF WHICH EUR
23.3MILLION DUE TO IMPACT OF APPLICATION OF IFRS 16)
    * OUTLOOK: WILL START 2020 WITH AMBITION OF CONTINUING
GRADUAL
UPWARD TREND AND INCREASE ITS EBITDA MARGIN
    * FY EBITDA LOSS OF EUR 31.4 MILLION
    * ON CORONAVIRUS: GROUP'S ACTIVITY IS NOT DIRECTLY IMPACTED
BY
VARIOUS DISTURBANCES LINKED TO COVID-19 EPIDEMIC, EXCEPT FOR
"TRAVEL" ACTIVITY
    * OUTLOOK: IN 2020, GROUP WILL ENJOY FULL-YEAR EFFECT OF
REDUCTION
IN GENERAL AND ADMINISTRATIVE EXPENSES
    * ON CORONAVIRUS GROUP REMAINS ATTENTIVE TO EVOLUTION OF
SITUATION
IN ITALY AND EVOLUTION OF SITUATION OF STORAGE/DESTOCKING
STRATEGY OF PARTNER BRANDS, PARTICULARLY IN FASHION FIELD

Source text for Eikon:  ID:nEQ8qQd83a 
Further company coverage:  SRPG.PA 

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