March 19, 2020 / 9:13 AM / 5 days ago

CORRECTED-(OFFICIAL)-BRIEF-Prismi FY Net Loss Widens To EUR 5.0 Mln, Issues Business Plan 2020-2024 (March 19)

(Corrects net loss figure in the second bullet point to EUR 5.0 mln from EUR 5.1 mln. Company corrected its own statement)

March 24 (Reuters) - PRISMI SpA:

* REPORTED ON WEDNESDAY FY PRODUCTION VALUE EUR 22.0 MLN VS 21.2 MLN YEAR AGO

* FY NET LOSS OF EUR 5.0 MLN VS LOSS OF EUR 1.6 MLN YEAR AGO

* DOES NOT REPORT 2019-2023 BUSINESS PLAN TARGETS AMID IMPOSSIBILITY TO FORECAST DURATION OF COVID-19 CRISIS AND ITS IMPACT ON BUSINESS

* ON COVID-19 CRISIS, GROUP CLOSED OFFICES, MASSIVELY ACTIVATED SMART WORKING PROCEDURES

* ISSUES 2020-2024 BUSINESS PLAN

* PLAN ENVISIONS SIGNIFICANT EBITDA GROWTH FROM BOTH EXPECTED INCREASE IN VOLUMES, WITH CONSEQUENT SCALE EFFECT, AND IMPORTANT COST-CUTTING ACTION LAUNCHED IN OCT 2019

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Further company coverage: (Gdansk Newsroom)

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