June 2, 2020 / 5:21 AM / a month ago

BRIEF-Exel Industries H1 Net Result Turns To Loss Of 36.4 Million Euros

June 2 (Reuters) - EXEL INDUSTRIES SA:

* H1 REVENUE EUR 314.3 MILLION VERSUS EUR 348.9 MILLION YEAR AGO

* AT END MARCH 2020 NET DEBT EUR 156.0 MILLION VERSUS EUR 154.3 MILLION YEAR AGO

* H1 NET LOSS EUR 36.4 MILLION VERSUS PROFIT EUR 1.2 MILLION YEAR AGO

* H1 CURRENT OPERATING LOSS EUR 1.1 MILLION VERSUS PROFIT EUR 5.0 MILLION YEAR AGO

* SECURE MEDIUM-TERM FINANCING LINES ALLOW TO CONTINUE BUSINESS WITHOUT STATE GUARANTEED LOANS

* PROVIDES NO FORECAST FOR FULL YEAR

* COVID-19: INITIATED FURTHER REDUCTION IN FIXED COSTS, FROZE CERTAIN NON-PRIORITY INVESTMENTS

* FAIRLY RAPID RECOVERY IN SALES IN APRIL AND MAY IN AGRICULTURAL SPRAYING AND GARDEN ACTIVITIES Source text for Eikon: [ID::nGNX2lXJxb] Further company coverage: (Gdansk Newsroom)

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