NEUILLY-SUR-SEINE (dpa-AFX) - Thales (THLEF.PK) announced a series of measures to deal with the Covid-19 crisis, which include: significant reduction in discretionary spending; strengthening of actions to control working capital requirements; deferral of non-critical investments; maintaining the continuity of critical and strategic client services; and paid leave during the lockdown period, sharp reduction of temporary work.
'This crisis is currently seriously disrupting production chains and project execution,' Patrice Caine, CEO, said.
The Board has decided to modify its 2019 dividend proposal. The dividend proposal will be limited to the interim dividend of 0.60 euros per share already paid in December 2019, allowing the Group to avoid a cash outflow of around 430 million euros. The AGM will take place on 6 May 2020 behind closed doors at the head office.
Thales also announced the withdrawal of 2020 financial outlook. The company noted that, currently, it is impossible to quantify the financial impact of the crisis.
Copyright RTT News/dpa-AFX