GEVELOT S.A.: PRESS RELEASE CLOSING OF 2019 ACCOUNTS

GEVELOT S.A. GEVELOT S.A.: PRESS RELEASE CLOSING OF 2019 ACCOUNTS 21-Apr-2020 / 17:50 CET/CEST Dissemination of a French Regulatory News, transmitted by EQS Group. The issuer is solely responsible for the content of this announcement. The Board of Directors meeting held by visioconferenceon 21 April 2020 approved the Company's financial statements and the Consolidated financial statements for the year 2019, according to IFRS International FinancialReporting Standards, after having obtained confirmation from the Auditors that the auditing procedures had been followed and that the Certification Reports are in the process of being issued.   Consolidated Accounts (in millions of Euros) 2019 Fiscal year 2018 Fiscal year Turnover 103.7 94.2 Current operating income 8.6 7.4 Operating income 8.4 7.3 Financial income 2.1 0.6 Current pre-tax income, integrated companies 10.5 7.9 Tax - 1.6 - 1.7 Consolidated net income 8.9 6.2 Minority interests' share 0.3 0.2 Income attributable to the parent company 8.6 6.0   Consolidated turnover for 2019now mainly composed of the Pumps sector, the other sector concerning the Holding's real estate activity, amounted to?103.7 M against ?94.2 M in 2018, increase of10.1%. At constant scope and exchange rates, the increase amounted to 6.8%. The new scope integrates the activity of the both Canadian companies COUGAR acquired in September 2019. The Oil & Gas international activity has increased firstly thanks to the recent Canadian acquisition, the sales rebounds in the North American market and the sales growth in South America, while sales in the Asia Pacific region fell slightly. The activity of the Food market has increased worldwide and the Industry's onehas risen slightly. The Group's consolidated operating income in 2019 amounted to a profit of ?8.6 M against ?7.4 M in 2018.The sustained activity and a better cost control explain this improvement. The contribution of the Pumps Sector was positive at ?9.1 M compared to ?7.9 M in 2018; the real estate activityof the Holding company made a negative contribution of ?0.6 M. Operating income was positive ?8.4 M against ?7.3 M in 2018. Financial income amounted to?2.1 Magainst ?0.6M in 2018.The improved Income from cash of ?0.6 M as well as neutral foreign exchange differences in 2019 (?0.9 M)mainly explained this increase. In 2019, net consolidated taxes was ?1.6 M against ?1.7 Min 2018. The net consolidated operating income in 2019 amounted to a profit of ?8.9 M against ?6.2 M positive in 2018. In the end, the net income of Gévelot, the consolidating company, amounted for 2019to a positive sum of ?8.6 M against a profit of ?6.0 M in 2018. Net cash flow from operations was ?13.9 M against ?9.2 M in 2018.On the one handthis increase is linked to the growth of income and on the other hand to the effects of the first application of IFRS 16(leases). The net consolidated financial structure amounted to ?148.3 M against ?164.0 M in 2018, down by      ?15.7 M, mainly due to the acquisition of the Canadian companies and the reorganization of this local activity area, ie ?13.7 M, as well as the effects of the first application of IFRS 16 on leases for ?1.9 M.   Turnover for 2019of Gévelot SA, the Group Holding Company, consisting of rents and services, amounted to ?0.8 M against ?0.6 M in 2018. The operating result of Gévelot SA wasnegative ? 0.7M, against ?0.8M negative in 2018. The financial result amounted to a profit of?3.1 M in 2019 against ?3.3Mpositive in 2018. In 2019, it included a dividend of ?2.3M (compared to ?3.0M in 2018) and a net financial income for ?0.6M (?0.4M in 2018), as well as net exchange differences positive of ?0.2M (negative ?0.1M in 2018). The extraordinary income excluding allocations / reversals, ofprovisions net of taxes linked to previous tax audits, was negative by K?46 compared to K? 54  in 2018. In the absence of  tax, and after K? 787 in tax savings linked to the tax consolidation scheme, the net corporate income of Gévelot S.A. in 2019 showed a profit of K? 3 142 against K?3 214 positive in 2018. The Annual General Meeting of Shareholders, hold in closed meeting on Thursday 11 June 2020, will propose the distribution of a decreased dividend, i.e. ?1.60 per shareagainst ?1.80 the past year. Strong negative economical effects are expectedfrom the Covid-19 health crisis on the Group's activity and profitability. This situation will be exacerbated in addition by the recent drop in the barrel price whichwill have a very significant impact on our Oil & Gas markets. The other markets are also expected to post a clear decline. Some first adaptation measures (furlough, home working, etc.)have been implementedin all of our sites,both worldwide and in France.Our priority is to ensure the health security of our employees and in general of all stakeholders on our sites. The financial structure of our group, our capacity to adapt andthe efforts of all our employees should enable the Group to cope with the expected difficulties. In accordance with AMF recommendations, a new communication will be issued in the event of more significant impacts, currently non-measurable. Finally, the year 2020 should have been marked in June by the bicentennial of our Group. This commemoration is postponed to a time when the general circumstances will be more favorable.                       Information available on our website: www.gevelot-sa.fr Website: www.gevelot-sa.fr Listing on Euronext Growth: ALGEV - ISIN: FR0000033888 Contact                Next release: [e-mail]                 Ordinary Meeting of Shareholders, 11 June 2020  Regulatory filing PDF file Document title: PRESS RELEASE CLOSING OF 2019 ACCOUNTS Document: https://eqs-cockpit.com/c/fncls.ssp?u=HMTEQSTQYJ

Language:	English
Company:	GEVELOT S.A.
	6 Boulevard Bineau
	92300 LEVALLOIS-PERRET
	France
Phone:	[phone]
Fax:	[phone]
E-mail:	[e-mail]
Internet:	www.gevelot.fr
ISIN:	FR0000033888
AMF Category:	Inside information / News release on accounts, results
EQS News ID:	1026695

End of Announcement	EQS News Service

1026695  21-Apr-2020 CET/CEST