March 2, 2017 / 11:05 AM / a month ago

BRIEF-Lumibird Q1 Revenue Down At 21.9 Million Euros

April 27 (Reuters) - LUMIBIRD SA:

* COVID-19 EPIDEMIC HAS ALSO IMPACTED REVENUES, BUT TO A LIMITED EXTENT, AS MAJORITY OF PRODUCT LINES ARE CONTINUING TO OPERATE

* Q1 REVENUE EUR 21.9 MILLION VERSUS EUR 24.2 MILLION YEAR AGO

* END-MARCH FINANCIAL DEBT REPRESENTS EUR 36.6M

* GROUP IS NOT CURRENTLY IN A POSITION TO FORECAST HOW HEALTH CRISIS WILL IMPACT REVENUES FOR YEAR

* ORDER BOOK IS STILL ROBUST AND MAJORITY OF PRODUCTS ARE CONTINUING TO BE SOLD

* END-MARCH CASH, NET OF CURRENT BANK BORROWINGS, TOTALS EUR 48M, AND FINANCIAL DEBT REPRESENTS EUR 36.6M

* GROUP’S BUSINESS IS RUNNING MORE SLOWLY AS PRODUCTION CAPACITY IS BEING AFFECTED BY REDUCED STAFFING LEVELS FOR PRODUCTION THAN UNDER NORMAL CONDITIONS

* ON CORONAVIRUS: NEARLY 70% OF STAFF ARE OPERATIONAL

* WILL CONTINUE TO FOCUS ON COMBINING ORGANIC AND EXTERNAL GROWTH IN THE THREE BUOYANT MARKETS (LIDAR, DEFENSE/SPACE AND MEDICAL) Source text for Eikon: Further company coverage: (Gdansk Newsroom)

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