June 1, 2020 / 6:56 AM / 2 months ago

BRIEF-Sirio FY Net Result Turns To Loss Of EUR 3.4 Mln, Issues Business Plan 2020-2022

June 1 - Sirio SpA:

* REPORTED ON SATURDAY FY TOTAL REVENUE EUR 72.2 MLN VS EUR 64.4 MLN YEAR AGO

* FY NET LOSS EUR 3.4 MLN VS PROFIT EUR 1.3 MLN YEAR AGO

* BOARD APPROVED BUSINESS PLAN 2020-2022

* TARGETS IN 2022 TOTAL REVENUE IN A RANGE BETWEEN EUR 120-130 MLN

* TARGETS IN 2022 MARGINALITY AROUND 10-11% (EBITDA)

* TARGETS IN 2022 OPENING OF OVER 40 NEW POINTS OF SALE

* ON COVID-19, DURING LOCK-DOWN PERIOD, FOLLOWING THE CLOSINGS AND SLOWDOWN OF MANY POINTS OF SALE, THERE WAS AN AVERAGE REDUCTION IN TURNOVER OF AROUND 40%

* ON COVID-19, ALL THE MEASURES PUT IN PLACE BY THE COMPANY, INCLUDING THE REDUNDANCY FUND, AND THE RENEGOTIATION OF RENTS AND ROYALTIES WITH ALL LANDLORDS, WILL NOT BE SUFFICIENT TO CONTAIN THE NEGATIVE EFFECTS ON TURNOVER AND MARGINS

* ON COVID-19, THERE ARE NO SIGNIFICANT UNCERTAINTY CONDITIONS SUCH AS TO COMPROMISE COMPANY’S BUSINESS CONTINUITY

Source text for Eikon:

Further company coverage:

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below