May 14, 2020 / 6:09 AM / 11 days ago

BRIEF-Colas Q1 Current Operating Loss Widens To 370 Million Euros

May 14 (Reuters) - COLAS SA:

* Q1 ORDER BACKLOG: €10.0 B, UP 3% AFTER RESTATEMENT TO REFLECT MAIN ACQUISITIONS AND DIVESTMENTS, AND AT CONSTANT EXCHANGE RATES

* Q1 REVENUE: €2.0 B (-14% AND -10% AT CONSTANT SCOPE AND EXCHANGE RATES)

* Q1 CURRENT OPERATING PROFIT: -€370 M (-€72 M)

* ON COVID-19: FOLLOWING THE LOCKDOWN MEASURES TAKEN BY THE FRENCH GOVERNMENT, ALL CONSTRUCTION SITES AND PRODUCTION SITES IN FRANCE WERE STOPPED AS OF MARCH 17

* ON COVID-19: ACTIVITY ALSO SLOWED SHARPLY IN BELGIUM AND SWITZERLAND DURING THE SECOND HALF OF MARCH

* Q1 NET PROFIT ATTRIBUTABLE TO THE GROUP: -€300 M

* THE IMPACT OF THE CRISIS ON CURRENT OPERATING PROFIT IS ESTIMATED AT AROUND -€75 MILLION (LOSS OF CURRENT OPERATING PROFIT MARGIN AND UNAVOIDABLE COSTS)

* THE IMPACT OF THE COVID-19 PANDEMIC ON COLAS’ BUSINESS AND RESULTS SHOULD BE STRONGER IN THE 2ND QUARTER

* IT IS STILL TOO EARLY TO FORMULATE OUTLOOK FOR 2020 AS A WHOLE Source text for Eikon: Further company coverage: (Gdansk Newsroom)

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