Brief: Trevi: Approves 2017, 2018 Financial Statements, Confirms Disposal Of Oil&Gas Group Companies

Trevi Finanziaria Industriale SpA

16/07/2019 06:55

July 16 (Reuters) - Trevi Finanziaria Industriale SpA
 TFI.MI :
    * APPROVES FINANCIAL STATEMENTS FOR 2017 AND 2018 FINANCIAL
YEARS
    * APPROVES DISPOSAL OF GROUP COMPANIES OPERATING IN OIL&GAS
SECTOR
TO MEGHA ENGINEERING & INFRASTRUCTURES LTD
    * GROUP SHAREHOLDER'S EQUITY AT DEC. 31, 2018 NEGATIVE FOR
EUR
148.1 MILLION, MAINLY RELATED TO WRITE-DOWNS AND ACCOUNTING
ADJUSTMENTS
    * FOUNDATION SECTOR ORDER BACKLOG GROWING AT EUR 497 MILLION
IN
2018 THANKS TO USA AND EUROPE MARKETS
    * SAYS FOUNDATION SECTOR POSITIVE OPERATING MARGINS IN 2018
    * FY 2018 REPORTED TOTAL CONSOLIDATED REVENUE OF ABOUT EUR
618.1
MILLION VERSUS EUR 772.6 MILLION IN 2017
    * FY 2018 NET LOSS EUR 143.4 MILLION VERSUS LOSS OF EUR
539.6
MILLION IN 2017
    * TERMS OF OIL & GAS DISPOSAL AGREEMENT INCLUDE ENTERPRISE
VALUE –
ON DEBT FREE BASIS – EQUAL TO EUR 140 MILLION, SUBJECT TO
CERTAIN ADJUSTMENTS
    * EXPECTS TO CLOSE DISPOSAL TRANSACTION OF COMPANIES
OPERATING IN
OIL&GAS SECTOR BY THE END OF NOVEMBER

Source text for Eikon:  ID:nBIA5D407m 
Further company coverage:  TFI.MI 

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