Brief: Wavestone Suspends 2019/2020 Dividend Due To COVID-19

Wavestone SA

06/04/2020 17:29

April 6 (Reuters) - WAVESTONE SA  WAVE.PA :
    * CORONAVIRUS AND LOCKDOWN HAVE SIGNIFICANT IMPACT ON
BUSINESS
    * SUSPENDS 2019/2020 DIVIDEND
    * 2019/20 ANNUAL GROWTH SLIGHTLY BELOW TARGET
    * ALTHOUGH SOME PROJECTS HAVE BEEN RESUMED IN RECENT DAYS,
THEY
DON'T COMPENSATE FOR NEW POSTPONEMENTS OR CANCELLATIONS OF
ENGAGEMENTS REQUESTED
    * CURRENTLY, BUSINESS IS DOWN 15-20% APPROXIMATELY VERSUS
THE
PRE-LOCKDOWN SITUATION
    * AT MARCH 31, 2020, WAVESTONE'S NET DEBT WAS ABOUT €30
MILLION,
COMPARED TO €61.7 MILLION SIX MONTHS EARLIER
    * DOES NOT EXPECT ANY IMPROVEMENT DURING THE MONTH OF APRIL

Source text for Eikon:  ID:nACT62849 
Further company coverage:  WAVE.PA 

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