Saint-Gobain: planned reduction in capex
(CercleFinance.com) - Saint-Gobain announces that it will take all the initiatives that are necessary to limit the effects that the pandemic will have on its operating profit and cash flow as much as possible, including adaptating its cost structure and deferral of expenses.
The group will also reduce its capex in 2020 compared to 2019, with a "Much greater decrease in capital expenditure than the E200m reduction initially planned for 2020 versus 2019 by deferring all possible projects that were scheduled in the coming months".
Confirming that it has the cash and financial means necessary to cope with the consequences of the pandemic, Saint-Gobain warns that "the guidance for 2020 is no longer valid and it is not currently possible to evaluate its impact on the Group's businesses".
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The group will also reduce its capex in 2020 compared to 2019, with a "Much greater decrease in capital expenditure than the E200m reduction initially planned for 2020 versus 2019 by deferring all possible projects that were scheduled in the coming months".
Confirming that it has the cash and financial means necessary to cope with the consequences of the pandemic, Saint-Gobain warns that "the guidance for 2020 is no longer valid and it is not currently possible to evaluate its impact on the Group's businesses".
Copyright (c) 2020 CercleFinance.com. All rights reserved.