March 13, 2020 / 11:50 AM / 25 days ago

BRIEF-Tesmec FY Net Profit Widens To EUR 3.0 Mln

March 13 (Reuters) - Tesmec SpA:

* FY REVENUE EUR 200.7 MILLION VERSUS EUR 194.6 MILLION YEAR AGO

* PROPOSES NOT TO DISTRIBUTE DIVIDEND

* CONSIDERING CURRENT SITUATION LINKED TO COVID-19, IT IS PREMATURE TODAY TO MAKE FORECASTS ON BUSINESS TRENDS FOR THE COMING MONTHS - CEO

* IN 2020 THE GROUP AIMS TO STRENGTHEN IN THE SECTORS WITH THE HIGHEST ADDED VALUE AND WITH HI-TECH CONTENT - CEO

* ON THE BASIS OF CURRENT KNOWLEDGE ON SPREAD OF COVID-19, IT IS BELIEVED THAT IMPACTS OF THIS SITUATION WILL NOT HAVE MATERIAL CONSEQUENCES ON MEDIUM TERM ACTIVITY WHILE IMMEDIATE LIQUIDITY NEEDS COULD ARISE DUE TO THE SLOWDOWN IN PRODUCTION AND COMMERCIAL ACTIVITIE

* IN 2020 GROUP’S ACTIONS WILL INCREASINGLY TARGET INNOVATIONS FOR ENERGY TRANSITION, SAFETY, DIAGNOSTICS AND DIGITIZATION OF INFRASTRUCTURE- CEO

* CO IS MANAGING CURRENT SITUATION RELATED TO COVID-19 WITH GREAT ATTENTION, ADOPTING ALL APPROPRIATE HEALTH AND SAFETY PROTOCOLS IN FULL COMPLIANCE WITH PROVISIONS OF MINISTRY OF HEALTH

* GROUP CONFIRMS ITS LONG TERM STRATEGIC GUIDELINES FOCUSED IN DEVELOPMENT IN BUSINESS SECTORS MAINLY LINKED TO SUSTAINABLE INNOVATIONS, DIAGNOSTICS AND CYBERSECURITY OF INFRASTRUCTURE Source text for Eikon: Further company coverage: (Gdansk Newsroom)

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