February 27, 2020 / 6:03 PM / a month ago

BRIEF-Gestamp Automocion Fy Net Profit Down At 212 Million Euros Yoy

Feb 27 (Reuters) - Gestamp Automocion SA:

* FY REVENUES 9.07 BILLION EUROS VERSUS 8.55 BILLION EUROS YEAR AGO

* FY EBITDA 1.07 BILLION EUROS VERSUS 961 MILLION EUROS YEAR AGO

* FY NET PROFIT 212 MILLION EUROS VERSUS 258 MILLION EUROS YEAR AGO

* SAYS IN 2020 EXPECTS TO CONTINUE TO OUTPERFORM THE MARKET BY A MID-SINGLE DIGIT IN REVENUES ON A CONSTANT FX BASIS

* SAYS DIVIDEND POLICY WILL REMAIN UNCHANGED AS A PAYOUT RATIO OF 30% OF NET INCOME

* SAYS IN 2020 EBITDA WILL BE HIGHER THAN IN 2019 AND CAPEX WILL BE APPROACHING 7.5% OF REVENUES (EXCLUDING IFRS 16)

* SAYS GUIDANCE EXCLUDES THE SYSTEMIC EFFECT OF CORONAVIRUS

* UPDATE ON CHINA SITUATION, CURRENTLY 10 OUT OF 11 PLANTS IN PROGRESSIVE START-UP AFTER THE EXTENDED HOLIDAY SHUTDOWN

* SAYS PLANT IN WUHAN IS DEPENDENT ON INSTRUCTIONS FROM THE CHINESE GOVERNMENT Source text: bit.ly/2vdkCPb bit.ly/2wSRQ6N Further company coverage: (Gdansk Newsroom)

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