March 28, 2019 / 9:32 AM / 23 days ago

BRIEF-ASTM FY Net Profit From Continued Operations At EUR 166.5 Mln

March 28 (Reuters) - ASTM SpA:

* REPORTED ON WEDNESDAY FY NET PROFIT FROM CONTINUED OPERATIONS EUR 166.5 MLN VERSUS EUR 149.6 MLN YEAR AGO

* FY TOTAL REVENUES EUR 1.99 BLN VERSUS EUR 1.74 BLN YEAR AGO

* PROPOSES FINAL DIVIDEND OF EUR 0.302 /SHR

* UPDATES ON REASONS BEHIND POSTPONEMENT OF APPROVAL OF 2018 RESULTS BY BOARD

* ECORODOVIAS’S BOARD DID NOT PROPOSE DIVIDENDS FOR PRUDENTIAL REASONS IN ADDITION TO INTERIM ONES IN ORDER TO ALLOCATE REST OF FY 2018 PROFIT TO RESERVE

* UNIT ECORODOVIAS HAS ACKNOWLEDGED INVESTIGATION BY FEDERAL PROSECUTOR’S OFFICE IN PARANA AGAINST TWO FORMER MANAGERS OF TWO OF UNITS ECOVIA AND ECOCATARATAS

* INDIRECT UNITS SAID THAT ONLY THEIR REMOVED EXECUTIVES WERE THE SUBJECT OF THE CRIMINAL LAWSUIT, NOT THE COMPANIES

* FEDERAL PROSECUTION OFFICE ESTIMATES MINIMAL DAMAGES OF BRL 200.5 MLN FOR ECOVIA AND BRL 935.5 MLN FOR ECOCATARATAS

* ECORODOVIAS SAID IT IS CONDUCTING ITS OWN INVESTIGATION INTO THE FACTS

* UPDATES ON DECISION OF FEDERAL LOWER COURT IN CURITIBA (PARANA) FOLLOWING ECORODOVIAS’S BOARD MEETING REGARDING CORRUPTION CASE INVOLVING ALL OF PARANA’S CONCESSIONS

* FEDERAL LOWER COURT IN CURITIBA (PARANA) ORDERED TO FREEZE CURRENT ACCOUNTS AND TO SEIZE SOME ASSETS OF ECORODOVIAS’S UNITS, AS WELL AS TO TAKE INTO CUSTODY THE PEOPLE INVOLVED

* COURT ESTIMATES DAMAGES OF BRL 82.6 MLN AND BRIBES OF BRL 7.7 MLN FROM ALL COMPANIES INVOLVED, I.E. THE TWO UNITS AND OTHER COMPANIES NOT RELATED TO ECORODOVIAS

Source text for Eikon:

Further company coverage: (Gdynia Newsroom)

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