March 6, 2020 / 7:54 AM / a month ago

BRIEF-CCC FY Net Result Turns To Loss Of 27.4 Mln Zlotys

March 6 (Reuters) - CCC SA:

* FY NET LOSS OF 27.4 MILLION ZLOTYS VERSUS PROFIT OF 59.3 MILLION ZLOTYS YEAR AGO

* FY REVENUE 5.84 BILLION ZLOTYS VERSUS 4.73 BILLION ZLOTYS YEAR AGO

* FY OPERATING PROFIT 133.1 MILLION ZLOTYS VERSUS 372.5 MILLION ZLOTYS YEAR AGO

* FY GROSS MARGIN 49.4%, DOWN 0.7 P.P. YEAR ON YEAR

* AS FOR LONG-TERM OUTLOOK TAKING CORONAVIRUS INTO ACCOUNT, THE COMPANY DOES NOT SEE THE NECESSITY TO TRANSFER ITS PRODUCTION FROM CHINA TO ANOTHER COUNTRY

* HOWEVER, WITH A VIEW TO SHORTENING DELIVERY TIME AND LOWERING INVENTORY LEVEL, THE COMPANY HAS ESTABLISHED AND WILL CONTINUE TO ESTABLISH COOPERATION WITH PRODUCERS FROM OTHER COUNTRIES, E.G. PRODUCERS FROM TURKEY, FROM WHERE DELIVERIES ARE ALREADY PLANNED FOR THE AUTUMN SEASON OF 2020

* EXPECTS TO OPEN ABOUT 60,000 SQUARE METRES OF STATIONARY STORES NET IN 2020

* THE COMPANY’S FINANCIAL POLICY OBJECTIVES FOR 2020 INCLUDE DEBT REDUCTION (NET DEBT RATIO/EBITDA) AND REDUCTION OF CAPEX

* THE COMPANY’S GOALS FOR 2020 INCLUDE LAUNCH OF INTERNET PLATFORM CCC.EU IN ROMANIA, AUSTRIA, HUNGARY AND PRESENCE IN ONLINE CHANNEL IN RUSSIA AS WELL AS LAUNCH OF MOBILE APPLICATION CCC IN CZECH REPUBLIC, ROMANIA, AUSTRIA, SLOVAKIA AND HUNGARY

* THE COMPANY ALSO PLANS TO LAUNCH EOBUWIE.PL PLATFORM AND MOBILE APPLICATION IN CROATIA, AND EXPAND MODIVO PLATFORM ONTO NEW MARKETS, INCLUDING CROATIA, UKRAINE AND SWITZERLAND

Source text for Eikon:

Further company coverage: (Gdansk Newsroom)

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