March 6, 2020 / 6:45 AM / a month ago

BRIEF-Accell Group FY EBIT Up At 60.0 Million Euros

March 6 (Reuters) - ACCELL GROUP NV:

* FY LOSS ON DISCONTINUED OPERATIONS EUR 56.5 MILLION

* FY EBIT EUR 60.0 MILLION VERSUS EUR 51.4 MILLION YEAR AGO

* WE BELIEVE TO BE WELL ON TRACK TO MEET OUR MEDIUM TERM FINANCIAL TARGETS- CEO

* ON CORONAVIRUS: FULL IMPACT OF THE CORONA VIRUS OUTBREAK ON OUR BUSINESS IS UNCLEAR YET AND WE ARE MONITORING THE SITUATION CLOSELY

* SHAREHOLDERS WILL BE ASKED TO APPROVE PAYMENT OF DIVIDEND OF € 0.30 PER SHARE FOR 2019 (2018: € 0.50 PER SHARE)

* ON CORONAVIRUS: RISK MITIGATING ACTIONS ARE BEING TAKEN

* ON CORONAVIRUS: WE ANTICIPATE LONGER DELIVERY TIMES FOR CERTAIN COMPONENTS WHICH MAY DELAY THE INTRODUCTION OF SEVERAL NEW INNOVATIVE BIKE MODELS

* ON CORONAVIRUS: CURRENT INVENTORY LEVELS PROVIDE FOR SOME BUFFER

* FOR 2020 EXPECTS FURTHER GROWTH OF NET TURNOVER AND EBIT (EXCLUDING ONE-OFFS) UNDER NORMAL CONDITIONS Source text: bit.ly/3cAEAUD Further company coverage: (Gdansk Newsroom)

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