March 26, 2020 / 5:15 PM / 15 days ago

BRIEF-Genoway FY EBITDA Down At 0.5 Million Euros

March 26 (Reuters) -

* FY REVENUE EUR 9.5 MILLION VERSUS EUR 10.8 MILLION YEAR AGO

* FY EBITDA EUR 0.5 MILLION VERSUS EUR 1.4 MILLION YEAR AGO

* FY NET LOSS EUR 1.0 MILLION VERSUS PROFIT EUR 0.6 MILLION YEAR AGO

* CONFIRMATION OF 2024 TARGETS

* WE FULLY CONFIRM OUR 2024 AMBITION, WHICH AIMS TO INCREASE GENOWAY’S SALES TO EUR 30 MILLION AND EBITDA MARGIN TO 25% - CEO

* AS OF DEC 31, 2019, GENOWAY’S SHAREHOLDERS’ EQUITY STOOD AT EUR 6.8 MILLION

* GROSS FINANCIAL DEBT AMOUNTED TO EUR 6.0 MILLION AT END OF 2019

* ANTICIPATES STRONG ACCELERATION OF ITS SALES GROWTH OVER NEXT FIVE YEARS, WITH AVERAGE ANNUAL GROWTH TARGETED BETWEEN 25% AND 35% OVER PERIOD 2020-2024

* TO DATE, ESTIMATED IMPACT OF COVID-19 ON GENOWAY’S BUSINESS REMAINS LIMITED

* SOME PROJECTS ARE LIKELY TO BE POSTPONED OVER TIME DUE TO CORONAVIRUS

* MAINTAINS PRODUCTION AT SLIGHTLY DEGRADED LEVEL WHILE STRICTLY OBSERVING SAFETY INSTRUCTIONS Source text for Eikon: Further company coverage: (Gdansk Newsroom)

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