June 30, 2020 / 4:21 PM / 9 days ago

BRIEF-Lacroix Group H1 EBITDA Up AT 12.3 Million Euros

June 30 (Reuters) - LACROIX GROUP SA:

* REG-LACROIX GROUP: FIRST SEMESTER 2019-2020. ACTIVITY REMAINS STABLE AND EBITDA RESILIENT, DESPITE THE IMPACT OF THE HEALTH CRISIS.

* EBITDA REMAINS GOOD AT EUR 12.3 M COMPARED TO EUR 12.1 M IN FIRST HALF-YEAR 2018-2019, REPRESENTING 5.2% OF TURNOVER

* GROUP SHARE OF NET INCOME STANDS AT EUR 2.9 M, AGAINST EUR 5.2 M FOR FIRST HALF-YEAR 2019

* IN RESPECT OF FIRST HALF-YEAR 2019-2020, LACROIX GROUP RECORDED TURNOVER OF EUR 238.7 M

* RETURN TO NORMALISED SITUATION IS NOT EXPECTED BEFORE END OF 2020

* SINCE GRADUAL REOPENING OF ALL INDUSTRIAL SITES, GROUP HAS OBSERVED ENCOURAGING SIGNS OF RESUMPTION OF ACTIVITIES

* GROUP ANTICIPATES DROP OF AROUND 10% IN REVENUE FOR WHOLE FY, WITH RECURRING OPERATING MARGIN OF OVER 2%

* GROUP WILL PROPOSE, AT EXTRAORDINARY GENERAL MEETING ON 28 AUGUST, A CHANGE OF CLOSURE DATE OF ITS FY, BRINGING IT FROM 30 SEPT TO 31 DEC

* IF PROPOSAL WERE TO BE APPROVED, CURRENT FY WOULD HAVE EXCEPTIONAL DURATION OF 15 MONTHS, FROM 1 OCT 2019 TO 31 DEC 2020

* MODIFICATION WOULD PROVIDE GROUP WITH ADDITIONAL THREE-MONTH POST-COVID HOLD-OFF PERIOD TO REFINE RECOVERY PROSPECTS

* CLOSURE DATE MODIFICATION WOULD ALSO PROVIDE PERIOD TO CONSOLIDATE PREPARATION OF NEW 2020-2025 STRATEGIC PLAN, WHICH WOULD THEN BE PRESENTED IN APRIL 2021

* END-MARCH CASH AT EUR 30 MILLION, UNUSED MEDIUM-TERM CREDIT LINES OF EUR 4.5 MILLION Source text for Eikon: Further company coverage: (Gdansk Newsroom)

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