March 20, 2020 / 5:34 PM / 8 days ago

BRIEF-Bassac FY Net Result Group Share Down At 97.2 Million Euros

March 20 (Reuters) - BASSAC:

* FY REVENUE EUR 975.6 MILLION VERSUS EUR 841.7 MILLION YEAR AGO

* FY NET RESULT GROUP SHARE 97.2 MILLION VERSUS EUR 98.6 MILLION YEAR AGO

* PROPOSES DIVIDEND OF EUR 2,50 PER SHARE

* ON CORONAVIRUS: BASSAC SUBSIDIARIES HAVE PUT IN PLACE PROCEDURES AND WORK ORGANISATION ARRANGEMENTS DESIGNED TO PROTECT THE HEALTH OF THEIR EMPLOYEES, CUSTOMERS, SUPPLIERS AND OTHER PARTNERS, WHILE MAINTAINING, AS FAR AS POSSIBLE, THEIR ACTIVITY DURING THIS UNPRECEDENTED PERIOD

* FY CURRENT OPERATING INCOME AMOUNTED TO EUR 157.8 MLN IN 2019, COMPARED TO EUR 154.7 MLN IN 2018

* ON CORONAVIRUS: HAS ALSO JUST MOBILIZED PREVIOUSLY UNDRAWN CREDIT FACILITIES IN ORDER TO FURTHER STRENGTHEN ITS ALREADY STRONG LIQUIDITY, PUTTING ITSELF IN FULL CAPACITY TO DEAL WITH THE POSSIBLE ECONOMIC AND FINANCIAL IMPACTS OF THE CURRENT CRISIS

* ON CORONAVIRUS: DROP IN COMMERCIAL ACTIVITY IN 2020 WILL HAVE A NEGATIVE IMPACT ON THE RECONSTRUCTION OF BASSAC’S ORDER BOOK AND ITS TURNOVER FOR THE COMING YEARS

* ON CORONAVIRUS: IS IN THE PROCESS OF ANALYSING THE POSSIBLE IMPACTS OF THIS EPIDEMIC ON ITS ACTIVITY, WITH SOME DIFFICULTY IN PREDICTING ITS DURATION AND CONSEQUENCES AT THIS STAGE

* ON CORONAVIRUS: EPIDEMIC AND ASSOCIATED CONTAINMENT MEASURES HAVE LED TO INTERRUPTION AT CERTAIN CONSTRUCTION SITES

* AT DECEMBER 31, 2019, THE ORDER BACKLOG AMOUNTED TO EUR 1.479 MILLION, UP 7% COMPARED TO LAST YEAR

* ON CORONAVIRUS: AS LONG AS IT LASTS, THE EPIDEMIC WILL LEAD TO A SIGNIFICANT DROP IN ALL FORMS OF COMMERCIAL ACTIVITY AND THEREFORE IN THE NUMBER OF HOUSING RESERVATIONS IN 2020, WHICH WILL HAVE A NEGATIVE IMPACT ON THE REBUILDING OF BASSAC’S ORDER BOOK AND ON ITS SALES IN SUBSEQUENT YEARS

* ON CORONAVIRUS: IF DISRUPTION CONTINUES, THIS WOULD LEAD FOR FISCAL YEAR 2020 TO A SIGNIFICANT DROP IN BASSAC’S TURNOVER AND NET PROFIT VERSUS 2019 Source text for Eikon: Further company coverage: (Gdansk Newsroom)

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