March 26, 2020 / 8:05 AM / 3 days ago

BRIEF-Picanol FY Revenue Down At 2.22 Billion Euros

March 26 (Reuters) - PICANOL NV:

* FY REVENUE BEFORE FAIR VALUE ADJUSTMENT EUR 2.22 BILLION

* FY ADJUSTED EBITDA BEFORE FAIR VALUE ADJUSTMENT EUR 312.1 MILLION

* FY PROFIT FOR THE PERIOD ATTRIBUTABLE TO THE EQUITY HOLDERS OF THE COMPANY BEFORE FAIR VALUE ADJUSTMENT EUR 66.9 MILLION

* FY CASH FLOW FROM OPERATING ACTIVITIES EUR 254.4 MILLION

* GROUP ANTICIPATES 2020 ADJUSTED EBITDA WILL BE HIGHER COMPARED TO 2019 – EVEN WHEN EXCLUDING NEGATIVE IMPACT ON 2019 ADJUSTED EBITDA OF THE INVENTORY REVALUATION

* GUIDANCE FOR 2020 DOES NOT INCLUDE ANY POTENTIAL IMPACT FROM COVID-19

* BOARD OF DIRECTORS WILL PROPOSE TO THE SHAREHOLDERS TO PAY OUT A DIVIDEND OF 0.2 EUR PER SHARE FOR THE 2019 FINANCIAL YEAR

* AT THIS STAGE AND GIVEN THE EVOLVING LANDSCAPE, IT IS TOO EARLY TO DETERMINE FULL IMPACT OF COVID-19 ON 2020 FINANCIAL RESULTS

* FY PROFIT FOR THE PERIOD BEFORE FAIR VALUE ADJUSTMENT EUR 124.3 MILLION

* EXCEPT FOR CURRENT DISRUPTION OF PRODUCTION AT ITS PLANT IN IEPER AND AT DYKA GROUP’S PLANT IN SAINTE-AUSTREBERTHE, ALL PLANTS AND ACTIVITIES ARE RUNNING IN LINE WITH EXPECTATIONS AT THE MOMENT

* ON CORONAVIRUS: ACTIVITIES COULD BE FURTHER IMPACTED IN THE COMING WEEKS OR MONTHS IF TOO MANY EMPLOYEES ARE IMPACTED BY COVID-19 AND/OR IF ACCESS TO RAW MATERIALS AND AUXILIARY MATERIALS OR MEANS OF TRANSPORTATION BECOMES MORE COMPLICATED Source text: bit.ly/2QNVAxk Further company coverage: (Gdansk Newsroom)

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