March 25, 2020 / 4:55 PM / 11 days ago

BRIEF-Sidetrade Says Confident In Ability To Have Positive Operating Result For FY 2020

March 25 (Reuters) - SIDETRADE SA:

* CONTINUITY OF OPERATIONAL ACTIVITY ENSURED BY A 100% CLOUD ORGANIZATION

* STRENGTH OF SAAS MODEL IS EXPECTED TO GENERATE GROWTH IN REVENUE OVER 2020

* IN THE FACE OF THIS UNPRECEDENTED CRISIS, ROBUSTNESS OF SIDETRADE’S 100% SAAS MODEL SHOULD GENERATE GROWING REVENUES IN 2020.

* ALL BUDGETED RECRUITMENTS ARE FROZEN UNTIL JUNE 2020

* ALL NON-PRIORITY EXPENDITURE HAS BEEN REVISED DOWNWARDS UNTIL 30 JUNE 2020

* OPENING IN THE UNITED STATES IS POSTPONED UNTIL 1 SEPTEMBER 2020

* MEASURE TAKEN WILL RESULT IN OVER 3 MILLION EUROS OF SAVINGS COMPARED TO INITIAL SPENDING BUDGET FOR 2020

* MANAGEMENT IS CONFIDENT IN ITS ABILITY TO HAVE A POSITIVE OPERATING RESULT FOR FINANCIAL YEAR 2020

* AS OF MARCH 23, CASH POSITION OF 5.3 MILLION EUROS AND EQUIVALENT OF 5.9 MILLION EUROS IN TREASURY SHARES

* SIDETRADE HAS VIRTUALLY NO DEBT AND COULD BENEFIT - IF NECESSARY - FROM GOVERNMENT MEASURES TO FACILITATE ACCESS TO BANK DEBT Source text for Eikon: Further company coverage: (Gdansk Newsroom)

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