We could not find any results for:
Make sure your spelling is correct or try broadening your search.
Name | Symbol | Market | Type |
---|---|---|---|
BNP PARIBAS EASY ECPI GLOBAL ESG BLUE ECONOMY UCITS ETF | EU:BLUE | Euronext | Exchange Traded Fund |
Price Change | % Change | Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.0044 | 0.03% | 16.4372 | 13.03 | 16.52 | 16.4372 | 16.4054 | 16.4054 | 1,068 | 16:40:00 |
PRESS RELEASE |
2019 Results | March 12, 2020 |
Project of a simplified alternative tender offer for Blue Solutions, followed by mandatory de-listing
The Board of Directors of Blue Solutions, which met on March 12, 2020, approved the 2019 financial statements.
Blue Solutions' 2019 revenue fell by €12 million (-31% compared to 2018), due to the loss of a €12.5 million royalty revenue from Bolloré in respect of a research agreement which came to an end. The drop in revenue is in line with forecasts pending the start of new productions. As anticipated, the transformation of production plants in Canada and Brittany is ramping up to manufacture the new generation of batteries as of 2020, offering higher performances and lower production costs.
Adjusted operating income (EBITA) decreased by €11 million, due primarily to lower revenue and the discontinuation of the Supercapacitors business.
Consolidated net income was a loss of €43 million (vs. a loss of €33 million in 2018).
Net debt amounted to €91 million, including a €34 million return to better fortune clause in favor of Bolloré.
Simplified alternative tender offer for Blue Solutions, followed by mandatory de-listing:
The provisional timetable is as follows:
On the basis of the valuation work carried out by Thierry Bergeras, an expert appointed by the Paris Commercial Court, the Board of Directors meeting on March 12, 2020, on the recommendation of the Chief Executive Officer, decided [unanimously] not to exercise any of the seven call options regarding the assets of the Bolloré Group, of which Blue Solutions was the beneficiary.
This decision follows most notably the termination of the Autolib' service, which raised a strategic thought process on the production activities of electric cars (Bluecar) and car-sharing operations (Bluecarsharing). As a result of these considerations, the Group has ceased the production of electric cars (the management lease contract for the Bairo plant concluded with Pininfarina having expired December 31, 2019) and has also announced the cessation of certain car-sharing activities, with various new directions now being considered for the remaining car-sharing activities.
Blue Solutions will focus on the commercial development and production of batteries dedicated to electric bus markets and energy storage solutions.
A new industrial strategy to ensure its business development in markets with high growth potential:
§ Blue Solutions is becoming an industrial pure player specialized in the design and production of “completely solid” cells and batteries.
This new strategy has already made it possible to roll out partnerships with major international groups which have chosen to integrate the only technology able to ensure that batteries meet safety (no thermal runaway), robustness (insensitivity to temperature) and environmental footprint (phosphate without nickel or cobalt) requirements.
A pioneer in solid state batteries, Blue Solutions is now the only player able to roll out this proven technology on a large scale thanks to its feedback dating back almost 10 years.
Therefore, Blue Solutions, by constantly evolving its LMP® technology, has considerable resources to become a major player in this transformation. The partnerships forged in 2019 with leading international companies confirm the superiority of the “completely solid” LMP® technology such as:
Blue Solutions has positioned itself as a favored partner for carbon-free storage and transportation players. Ongoing sales agreements mentioned above back up this new strategic approach. Being the only player to manage the completely solid LMP® battery technology will guarantee its growth.
********
Blue Solutions consolidated results |
(in millions of euros) | 12/31/2019 | 12/31/2018 | Change |
Revenue | 26 | 38 | -31% |
EBITDA (1) | (24) | (14) | NA |
Adjusted operating income (EBITA) (1) | (42) | (30) | NA |
Financial income | (1) | (2) | NA |
Net income | (43) | (33) | NA |
Net income, Group share | (43) | (33) | NA |
12/31/2019 | 12/31/2018 | Change (€ m) | |
Shareholders’ equity, Group share | 44 | 88 | (43) |
net debt | 91 | 46 | 44 |
Gearing (%) (2) | 204% | 53% |
The audit of the 2019 consolidated financial statements has been completed, and the certification report will be issued after review of the management report.
Glossary
The non‐GAAP measures defined above should be considered in addition to, and not as a substitute for other GAAP measures of operating and financial performance, and Blue Solutions considers these to be relevant indicators of the Group's operational and financial performance. Furthermore, it should be noted that other companies may define and calculate these indicators differently. It is therefore possible that the indicators used by Blue Solutions cannot be directly compared with those of other companies.
The percentages changes indicated in this document are calculated in relation to the same period of the preceding fiscal year, unless otherwise stated. Due to rounding in this presentation, the sum of some data may not correspond exactly to the calculated total and the percentage may not correspond to the calculated variation.
DISCLAIMER
This press release is for information purposes only. It does not constitute a sales offer, or a solicitation/invitation to purchase or subscribe for securities, nor is it a solicitation of any vote in connection with the transaction or any other matter in any jurisdiction.
The supporting documents attached to the tender offer, which will include, once it is filed, the terms and conditions governing the tender offer, will be submitted to the French Autorité des marchés financiers (AMF) for approval. Investors and shareholders are strongly encouraged to read said documents as soon as they become available, as well as any amendment or additions thereto, it being specified that these documents will include material information on Bolloré, Blue Solutions and the envisaged transaction.
This press release must not be published, released or distributed, directly or indirectly, in any country in which the release of such information is subject to legal restrictions.
The release or distribution of this press release in certain countries may be subject to legal or regulatory restrictions. Accordingly, people located in countries where this press release is published, released or distributed should inform themselves about, and observe, such restrictions. Bolloré accepts no responsibility with regard to any potential violation of these restrictions by any person whatsoever.
Attachment
1 Year BNP PARIBAS EASY ECPI GL... Chart |
1 Month BNP PARIBAS EASY ECPI GL... Chart |
It looks like you are not logged in. Click the button below to log in and keep track of your recent history.
Support: +44 (0) 203 8794 460 | support@advfn.com
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions