March 17, 2020 / 7:58 AM / 12 days ago

BRIEF-Claranova Preserves Group Activities Despite Covid-19

March 17 (Reuters) - CLARANOVA SA:

* CORONAVIRUS OUTBREAK: CLARANOVA GROUP ACTIVITIES PRESERVED

* AT THIS STAGE, THE CONTAINMENT AND PRODUCTION SHUTDOWN MEASURES TAKEN IN THE MAIN COUNTRIES AFFECTED (CHINA, ITALY, SOUTH KOREA AND FRANCE) HAVE NO IMPACT ON THE ACTIVITIES OF THESE SECTORS, NOR ON THEIR SUPPLIES

* CLARANOVA HAS SOLID FUNDAMENTALS WITH CASH OF MORE THAN € 90 MILLION AS OF DECEMBER 31, 2019

* THE GROUP RECALLS THAT ITALY AND FRANCE, WHICH HAVE BEEN HARDEST HIT BY THIS EPIDEMIC, ACCOUNT FOR LESS THAN 2% OF CONSOLIDATED SALES

* ALL NON-ESSENTIAL TRAVEL AND MEETINGS ARE CANCELLED AND REPLACED BY VIDEO CONFERENCING, INCLUDING THE PRESENTATION OF THE GROUP’S HALF-YEARLY RESULTS

* CLARANOVA HAS TAKEN NECESSARY MEASURES TO PREVENT EPIDEMIC AND PUT IN PLACE SANITARY PROTECTION MEASURES AT ALL GROUP SITES

* ON CORONAVIRUS : REMAINS VERY ATTENTIVE TO DEVELOPMENTS IN THE SITUATION AND WILL COME BACK TO THESE ELEMENTS IN GREATER DETAIL WHEN IT PUBLISHES ITS HALF-YEARLY RESULTS ON MARCH 31

* INTERNET OF THINGS (IOT) DIVISION REPRESENTS INSIGNIFICANT RISK SINCE THE ACTIVITY ACCOUNTS FOR LESS THAN 1.3% OF GROUP’S ANNUAL REVENUE Source text for Eikon: Further company coverage: (Gdansk Newsroom)

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