April 30, 2020 / 5:35 PM / a month ago

BRIEF-ARTEA FY Operating Profit Up 8%, Postpones Dividend Payment

April 30 (Reuters) - ARTEA SA:

* 2019 RESULTS

* TOTAL TURNOVER AMOUNTED TO € 25.4 MILLION COMPARED TO € 73.1 MILLION IN 2018

* FY OPERATING PROFIT OF € 22.3 MILLION, UP 8%

* FY NET INCOME GROUP SHARE EUR 10.8 MILLION VERSUS EUR 10.1 MILLION YEAR AGO

* OUTLOOK FOR 2020 IMPACTED BY THE COVID-19 CRISIS

* POSTPONES DISTRIBUTION OF DIVIDEND, WHICH WILL BE IMPLEMENTED FROM 2021 ON THE BASIS OF THE 2020 ACCOUNTS

* STRONG GROWTH EXPECTED FOR THE FOLLOWING YEARS

* PART OF THE TEAMS WERE PLACED ON SHORT-TIME WORKING TO COPE WITH THE SHUTDOWN OF SOME ACTIVITIES

* 2019 COST OF FINANCIAL DEBT INCREASED TO € 4.7 MILLION COMPARED TO € 3.8 MILLION IN 2018

* IN 2019 GROUP HAS CLOSING CASH FLOW OF MORE THAN € 17 MILLION VERSUS END 2018

* 2019 GROUP’S DEBT RATIO IS STABLE AT 54% WITH NET DEBT OF € 134 MILLION AND SHAREHOLDERS’ EQUITY OF € 98 MILLION, UP 21% Source text for Eikon: Further company coverage: (Gdansk Newsroom)

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