OREGE

Annual results 2019 & activity

                                                                                                                                                                                                                              

PRESS RELEASE

Voisins Le Bretonneux, 15 June 2020 – 7am

ACTIVITY AND COVID 19 IMPACT

ANNUAL RESULTS 2019
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The end of 2019 and first half of 2020 disrupted by events

Social unrest in France at the end of 2019, followed by the global health crisis linked to Covid 19, has penalized the execution of a number of the Group’s projects. In particular, the closing off for 3 major projects was disrupted resulting, inter alia, in a delay in the recognition of the associated revenues estimated at around € 1.3 million:

- Itochu (Japan): The two SLG solutions sold in 2019 could not be delivered as scheduled at the end of December due to the transport disruption because of roadblocks by the yellow jackets. The solutions were delivered in January 2020. They have not yet been implemented in Japan due to the closure of the borders.

- Orlando (USA): the project was substantially implemented and executed over H2 2019 with formalization of final acceptance stages planned in Q1 2020, before the accounts were closed, to enable revenue recognition in December 2019.  The stages scheduled in Q1 2020 had to be suspended but are expected to be finalized this summer with a return to the client site from mid-June.