May 14, 2020 / 4:48 PM / 17 days ago

BRIEF-Esso S.A.F. Revenue At End-March Drops By 8% To 3.2 Billion Euros

May 14 (Reuters) - Esso Societe Anonyme Francaise SA :

* REVENUE AT END-MARCH EUR 3.2 BILLION, DOWN 8% YEAR-ON-YEAR

* IN 2020, PLANS TO INVEST 39 MILLION EUROS, INCLUDING 35 MILLION EUROS IN REFINERIES TO BETTER MEET MARKET NEEDS AND IMPROVE PERFORMANCE OF UNITS

* DUE TO COVID-19, CERTAIN INVESTMENTS PLANNED FOR 2020 WILL BE POSTPONED LEADING TO REDUCED EXPENSES BY AROUND 20% COMPARED TO INITIAL PLANS

* AT END-MARCH GROUP’S NET FINANCIAL POSITION WAS EUR 87 MILLION NEGATIVE VERSUS NET FINANCIAL POSITION OF EUR 432 MILLION POSITIVE AS OF DEC 31, 2019

* HAS DECIDED TO REDUCE ITS OPERATIONAL EXPENSES AND ITS INVESTMENT PLAN FOR 2020 Source text for Eikon: Further company coverage: (Gdansk Newsroom)

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