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BRIEF-SuperSonic Imagine FY net loss shrinks to 10.6 mln euros
March 15, 2017 / 6:56 AM / in 9 months

BRIEF-SuperSonic Imagine FY net loss shrinks to 10.6 mln euros

March 15 (Reuters) - SuperSonic Imagine SA:

* Reported on Tuesday FY sales of 22.2 million euros ($23.6 million) vs 20.1 million euros a year ago

* FY total revenue 23.2 million euros vs 21.7 million euros a year ago

* FY core operating loss 10.3 million euros vs a loss of 11.6 million euros a year ago

* FY net loss 10.6 million euros vs a loss of 12.8 million euros a year ago

* Aims to break even in terms of EBITDA in 2019

* As of Dec 31, 2016, the Company had a cash position of 11.3 million euros vs 29.5 million euros at end 2015

* Venture Loan from Kreos, in a total amount of 12 million euros, consists of two tranches of bonds with warrants attached (“OBSAs”) of 6 million euros each

* First tranche was subscribed on March 13, 2017 at the outcome of the management board meeting

* Loan has a term of 42 months and bears interest at an annual rate of 10.75 pct

* Second tranche will be issued by Dec 31, 2017 at the management board’s request

Source text: bit.ly/2mMllj6 Further company coverage: ($1 = 0.9411 euros) (Gdynia Newsroom)

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