April 23, 2020 / 5:12 PM / in a month

BRIEF-Soditech FY Operating Income Down At 1,007 Euros

April 23 (Reuters) - Soditech SA:

* FY OPERATING INCOME EUR 1,007 VERSUS EUR 0.3 MILLION YEAR AGO

* FINANCIAL DEBT RATIO INCREASED, FROM 7.71% IN 2018 TO 20% IN 2019 DUE TO INVESTMENTS (ACQUISITION OF SATAC)

* FY PROFIT EUR 93,828 VERSUS EUR 0.5 MILLION YEAR AGO

* 8% REDUCTION IN CHARGES DID NOT COMPENSATE FOR THE DROP IN TURNOVER (20%) TO MAINTAIN OPERATING INCOME UP TO 2018

* COVID-19: IN THE FIRST FOUR MONTHS OF 2020, THIS CRISIS HAD THE EFFECT OF REDUCING OUR TURNOVER BY AROUND 30%

* SHAREHOLDERS’ EQUITY REPRESENTS 44% OF THE TOTAL BALANCE SHEET, COMPARED WITH 34% AT 31 DECEMBER 2018

* HAS OBTAINED FROM CIC A STATE-GUARANTEED LOAN OF €1,000,000 AND A SIX-MONTH DEFERMENT OF LOAN REPAYMENTS

* COVID-19: FUTURE PROSPECTS WILL DEPEND ON FRENCH AND EUROPEAN STIMULUS MEASURES FOR DEFENSE AND RESEARCH MARKETS Source text for Eikon: Further company coverage: (Gdansk Newsroom)

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