April 29, 2020 / 6:30 AM / a month ago

BRIEF-Lucibel: FY Operating Loss Narrows To 1.7 Million Euros

April 29 (Reuters) - LUCIBEL SA:

* FY NET LOSS EUR 12.0 MLN VS LOSS EUR 5.1 MLN YR AGO

* FY OPERATING LOSS EUR 1.7 MILLION VERSUS LOSS OF EUR 3.7 MILLION (PUBLISHED) YEAR AGO

* FY REVENUE EUR 13.6 MILLION VERSUS EUR 17.6 MILLION (PUBLISHED) YEAR AGO

* AT 31 DECEMBER 2019, CONSOLIDATED SHAREHOLDERS’ EQUITY AMOUNTED TO € 3.3 MILLION

* GROSS CASH POSITION AT APRIL 27, 2020 OF EUR 1.4 MILLION

* OBTAINED THE AGREEMENT OF BANKS TO SET UP A STATE-GUARANTEED LOAN OF €1.6 MILLION, AND DISCUSSIONS ARE STILL UNDER WAY WITH SOME OF THE GROUP’S BANKS

* ABANDONS THE PREVIOUSLY ANNOUNCED OBJECTIVES OF DOUBLE-DIGIT SALES GROWTH AND POSITIVE EBITDA FOR FISCAL YEAR 2020

* IS CONFIDENT IN ITS ABILITY TO INCREASE SALES IN 2020 COMPARED TO THOSE RECORDED IN FISCAL YEAR 2019 Source text for Eikon: Further company coverage: (Gdansk Newsroom)

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