Brief: Wavestone FY Revenue Up At 422.0 Million Euros

Wavestone SA

28/04/2020 18:46

April 28 (Reuters) - WAVESTONE SA  WAVE.PA :
    * IN APRIL, BUSINESS ACTIVITY REDUCED BY ABOUT -15% TO -20%,
COMPARED WITH PRE-LOCKDOWN SITUATION
    * OVER MAY, COMPANY EXPECTS ACTIVITY LEVELS TO BE COMPARABLE
TO
APRIL
    * COVID-19 EPIDEMIC AND LOCKDOWN MEASURES IN FORCE IN MOST
COUNTRIES WHERE COMPANY OPERATES HAVE CAUSED A NOTICEABLE
SLOWDOWN IN WAVESTONE'S BUSINESS ACTIVITY SINCE MID-MARCH
    * AT MARCH 31, 2020, FIRM'S ORDER BOOK STOOD AT 3.5 MONTHS
OF
WORK, COMPARED WITH 3.3 MONTHS AT END OF DECEMBER 2019
    * IN APRIL, BUSINESS ACTIVITY REDUCED BY ABOUT -15% TO -20%,
COMPARED WITH PRE-LOCKDOWN SITUATION
    * FY REVENUE EUR 422.0 MILLION VERSUS EUR 391.5 MILLION YEAR
AGO
    * TO PROPOSE NO DIVIDEND FOR 2019/20 FISCAL YEAR
    * MEMBERS OF MANAGEMENT BOARD WILL FORGO RECEIVING VARIABLE
PART
OF THEIR REMUNERATION FOR 2019/20 FISCAL YEAR.
    * AT MARCH 31, 2020, COMPANY HAD AVAILABLE CASH AND CASH
EQUIVALENTS OF ABOUT EUR 65M, WITH A NET FINANCIAL DEBT OF ABOUT
EUR 30M
    * EBIT MARGIN IS EXPECTED TO MEET 13% TARGET SET BY FIRM AT
START
OF FISCAL YEAR
    * TO LOWER ITS BREAK-EVEN POINT, WAVESTONE HAS INITIATED
COMPREHENSIVE OVERHEADS REVIEW TO GENERATE €10M TO €15M IN
SAVINGS OVER FY 2020/21

Source text for Eikon:  ID:nACT63199 
Further company coverage:  WAVE.PA 

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