May 20, 2020 / 5:17 AM / 10 days ago

BRIEF-CFE Q1 Revenue Down At 760.9 Million Euros

May 20 (Reuters) - Aannemingsmaatschappij Cfe NV:

* QUARTERLY INFORMATION AT 31 MARCH 2020

* AS OF 31 MARCH 2020, THE CFE GROUP HAD A TOTAL CASH POSITION OF € 586 MILLION

* MAJOR IMPACT OF THE PUBLIC HEALTH CRISIS ON REVENUE, CASH FLOW AND RESULTS OF DEME AND CFE CONTRACTING IN 2020

* END-MARCH TOTAL ORDER BOOK EUR 4.73 BILLION

* Q1 REVENUE EUR 760.9 MILLION VERSUS EUR 838.4 MILLION YEAR AGO

* COVID-19: DEME EXPECTS DECREASE IN REVENUE IN 2020, NET RESULT SHOULD HOWEVER BE POSITIVE

* END-MARCH NET FINANCIAL DEBT EUR 850.4 MILLION VERSUS EUR 798.1 MILLION AT END-DEC

* CFE CONTRACTING WILL REPORT IN 2020 A DECREASE IN REVENUE COMPARED TO 2019. THE NET RESULT SHOULD BE CLOSE TO BREAK-EVEN

* ORDER TO START THE CONSTRUCTION OF THE FEHMARNBELT LINK ON 1 JANUARY 2021

* ON CORONAVIRUS: POSTPONEMENT OF DEME'S PROJECTS IN THE TENDERING STAGE, PARTICULARLY IN THE MIDDLE EAST, AFRICA AND ASIA Source text: bit.ly/3bLTKVE Further company coverage: (Gdansk Newsroom)

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