Edition:
India

Ales Groupe FY Net Loss Widens To 39.1 Million Euros


Wednesday, 1 Jul 2020 

July 1(Reuters) - ALES GROUPE SA ::REPORTED ON TUESDAY FY REVENUE OF EUR 208.6 MLN VERSUS EUR 208.3 YEAR AGO (ON LIKE-FOR-LIKE BASIS) .FY CURRENT OPERATING LOSS EUR 14.7 MLN VS LOSS OF EUR 6.3 MLN YR AGO.FY NET LOSS EUR 39.1 MLN VS LOSS OF EUR 15.4 MLN IN 2018 (WHICH INCLUDED THE EUR 19.5 MLN CAPITAL GAIN ON SALE OF PARFUMS CARON).FY NET FINANCIAL INDEBTEDNESS EUR 84.7 MLN VERSUS EUR 60.9 MLN YEAR AGO.AT THE END OF MAY 2020 CASH POSITION OF APPROXIMATELY EUR 14.8 MLN .ANTICIPATES SIGNIFICANT IMPACT OF CORONAVIRUS ON GROUP'S SALES AND PROFITABILITY IN 2020.CONTINUATION OF STRATEGIC REVIEW OF GROUP'S ACTIVITIES AND SALE-LEASEBACK PROCESS FOR CERTAIN OF REAL ESTATE ASSETS .DISCUSSIONS WITH LENDERS AND THIRD PARTIES TO OBTAINING BRIDGING LOANS OF EUR 33 MLN, IN ORDER TO BE ABLE TO CONTINUE AS A GOING CONCERN FOR 12 MONTHS.IN VIEW OF THE MARKET SITUATION IN H2, CAPITAL INCREASE AUTHORIZED ON JUNE 2019 WAS POSTPONED INDEFINITELY. 

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