Brief: Bel FY Operating Profit Up At 211 Million Euros

Unibel SA

12/03/2020 18:45

March 12 (Reuters) - UNIBEL SA  CBQP.PA :
    * FY REVENUE EUR 3.40 BILLION VERSUS EUR 3.31 BILLION YEAR
AGO
    * FY OPERATING PROFIT EUR 211 MILLION VERSUS EUR 160 MILLION
YEAR
AGO
    * OVERALL ENVIRONMENT AT START OF 2020 CONTINUES TO BE
AFFECTED BY
GEOPOLITICAL-RELATED DIFFICULTIES IN NEAR AND MIDDLE EAST AND
NORTH AFRICA
    * FY OPERATING CASH FLOW EUR 310 MILLION VERSUS EUR 251
MILLION
YEAR AGO
    * TRANSFORMATION WORK STARTED IN 2018 IS EXPECTED TO BE
COMPLETED
IN 2020, ENABLING BEL TO DEPLOY ITS STRATEGY IN HEALTHY AND
ACCESSIBLE-TO-ALL FOOD UNIVERSE
    * ON CORONAVIRUS DEPENDENCY OF BEL'S SUPPLY CHAIN AND
PRODUCTION
SITE OPERATIONS ON COUNTRIES CURRENTLY MOST AFFECTED IS LOW
    * AT DEC 31, 2019, EQUITY TOTALED EUR 1,810 MILLION,
COMPARED WITH
EUR 1,740 MILLION AT DEC 31, 2018
    * ON CORONAVIRUS GROUP PAYS CLOSE ATTENTION TO IMPACTS OF
PANDEMIA
ON CONSUMER TRENDS IN ITS DIFFERENT MARKETS AND TO POSSIBLE
CONTAINMENT MEASURES, POSSIBLY LEADING TO ECONOMIC SLOW DOWNS
    * FY NET FINANCIAL DEBT, EXCLUDING RIGHT-OF-USE LEASE
LIABILITIES
RELATED TO ADOPTION OF IFRS 16(1), CAME TO EUR 582 MILLION AT
YEAR-END, VERSUS EUR 654 MILLION AT 31 DECEMBER 2018
    * PROPOSED  DIVIDEND OF €6.0 PER SHARE
    * ON COVID-19: AS OF TODAY, FINANCIAL IMPACT IS NOT
CONSIDERED
MATERIAL GIVEN GEOGRAPHIC FOOTPRINT OF GROUP MARKETS
    * OUTLOOK: TRANSFORMATION WORK EXPECTED TO BE COMPLETED IN
2020,
ENABLING BEL TO DEPLOY ITS STRATEGY IN HEALTHY AND
ACCESSIBLE-TO-ALL FOOD UNIVERSE
    * ON CORONAVIRUS: AS OF TODAY, FINANCIAL IMPACT IS NOT
CONSIDERED
MATERIAL GIVEN GEOGRAPHIC FOOTPRINT OF GROUP MARKETS
    * ON CORONAVIRUS: ALL APPROPRIATE ACTIONS ARE UNDER STUDY TO
MINIMIZE SUCH POTENTIAL IMPACT
    * INDUSTRIAL PRODUCTIVITY MEASURES SHOULD FULLY BEAR FRUIT
IN 2021
    * OUTLOOK MULTIYEAR TRANSFORMATION PLAN IS EXPECTED TO
GENERATE
EUR 120 MILLION IN SAVINGS AFTER COMPLETING ACTIONS TO OPTIMIZE
ADVERTISING AND PROMOTIONAL SPENDING
    * BEL REMAINS COMMITTED TO ITS GOAL OF ACHIEVING CARBON
NEUTRAL
OPERATIONS BY 2025, AND HAS DRAFTED ACTION PLANS TO THAT END

Source text for Eikon:  ID:nGNE4Q5HgQ 
Further company coverage:  CBQP.PA 

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