Brief: Van De Velde H1 EBITDA Has Decreased To 22.3 Million Euros

Van de Velde NV

31/08/2020 07:57

Aug 31 (Reuters) - Van de Velde NV  VELD.BR :
    * H1 NET PROFIT FOR THE PERIOD WAS €5.0M 
    * ACTIVITIES OF VAN DE VELDE WERE HEAVILY DISRUPTED BY THE
COVID-19 PANDEMIC IN THE FIRST HALF OF THE YEAR 
    * H1 EBITDA HAS DECREASED BY 31.0% TO €22.3M AND CORRESPONDS
TO
26.8% OF TURNOVER
    * INTERIM DIVIDEND OF €1.00 PER DIVIDEND ENTITLED SHARE WAS
APPROVED BY THE BOARD OF DIRECTORS REPLACING THE 2019 DIVIDEND
    * END-H1 CASH POSITION HAS INCREASED TO €42.9M, COMPARED
WITH
€41.4M AT THE END OF 2019
    * SHARE BUYBACK PROGRAMME IS TO BE RESUMED
    * SECOND WAVES OF COVID-19 IN OUR MARKETS COULD HAVE A
NEGATIVE
IMPACT ON OUR ACTIVITIES, FINANCIAL POSITION, CASH FLOW AND
OPERATING RESULT.
    * VAN DE VELDE’S FINANCING AND LIQUIDITY STRUCTURE SHOULD BE
STRONG ENOUGH TO ENSURE THE CONTINUITY OF OUR BUSINESS
    * H1 NET PROFIT FOR THE PERIOD WAS €5.0M
    * VAN DE VELDE REPORTS TURNOVER OF €82.9M, A DROP OF 26.5%
    * CAPITAL EXPENDITURE (EXCLUDING RIGHT OF USE ASSETS) IN THE
FIRST
HALF OF 2020 WAS €1.2M, COMPARED WITH €3.0M IN THE FIRST HALF OF
2019
    * POTENTIAL IMPACT OF THE PANDEMIC REMAINS VERY UNCERTAIN
BASED ON
THE CURRENT AVAILABLE INFORMATION
    * IS UNABLE TO ANNOUNCE ANY PROSPECTS FOR 2020 AT THIS TIME

Source text for Eikon:  ID:nNDL8tbc0L 
Further company coverage:  VELD.BR 

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