February 26, 2020 / 5:52 PM / a month ago

BRIEF-2CRSI Announces Expected Impact Of COVID-19 On Its 2020/21 Activity

Feb 26 (Reuters) - 2CRSI SA:

* 2CRSI: EXPECTED IMPACT OF THE CLOSURE OF SEVERAL ASIAN FACTORIES AS A RESULT OF COVID-19

* 2CRSI MAY BE LESS IMPACTED THAN OTHER MARKET PLAYERS

* 2CRSI GROUP’S NEW REVENUE TARGET FOR FINANCIAL YEAR 2020/21 IS EUR 200M

* GROUP WOULD LIKE TO POINT OUT THAT ITS SALES IN CHINA AMOUNT TO LESS THAN ONE PER CENT OF ITS ANNUAL REVENUE

* VERY LONG DELIVERY DELAYS CAUSED BY OUTBREAK WILL IMPACT ENTIRE CAPACITY TO DELIVER CERTAIN ORDERS SCHEDULED FOR EXECUTION IN Q1

* EBITDA MARGIN TARGET IS EXPECTED AT BETWEEN 6.5% AND 7% FOR 2020/21

* DELAYS WILL NEGATIVELY IMPACT 2019/20 FINANCIAL YEAR-END AND START OF FINANCIAL YEAR 2020/21.

* GROUP HAS SIGNIFICANT STOCKS OF CRITICAL COMPUTER COMPONENTS Source text for Eikon: Further company coverage: (Gdansk Newsroom)

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