(hooly-news.com) – JCDecaux SA has announced the withdrawal of its dividend proposal for the 2019 financial year in order to strengthen its liquidity, its balance sheet, which is one of the least indebted in the Outdoor Communication industry, as well as its financial flexibility in response to the unprecedented global crisis caused by the Covid-19 pandemic. The company has also indicated that it is withdrawing organic sales growth forecasts for the first quarter of the current fiscal year.
“The world has changed dramatically since March 5, the date on which we announced our 2019 annual results, now with more than 2.6 billion people, or one third of the world’s population, in containment due to Covid-19 As a result, we are now facing a global recession which is likely to be worse than that of the financial crisis of 2008, during which the advertising market had been badly hit “declared Jean-François Decaux, chairman of the executive board and co-general manager.
“In light of the larger containment measures implemented in many large countries, trading conditions are worsening with cancellations of additional campaigns and postponements to March. For this reason, we are withdrawing our forecast organic sales growth business in the first quarter of 2020 around -10%. The turnover of the second quarter of 2020 will be much more negatively impacted, due to the Covid-19 pandemic almost everywhere in the world, “said the director.
JCDecaux will publish its forecasts for the second quarter as planned on May 12.
2020 Agence Option Finance (hooly-news.com) – All reproduction rights reserved by hooly-news.com. hooly-news.com collects its data from the sources it considers the most reliable. However, the reader remains solely responsible for their interpretation and the use of the information made available to them. Thus the reader will have to hold hooly-news.com and its contributors free from any complaint resulting from this use. Option Finance Agency (hooly-news.com) is a brand of the Option Finance group