The title of stm. In mid-morning, the shares gained more than 6%, to 20,92 euros, scoring one of the best rises of the Ftse Mib, which rebounded by 1,45% in the same minutes.
The rain of purchases on Stm was triggered by the numbers of the first quarter of 2020, closed by the company with Net revenues equal to 2,23 billion dollars, gross margin to 37,9% e operating margin at 10,4%. L'Net income instead it stood at 192 million dollars, up 7,9% compared to the 178 million recorded in the same period last year. The company also specifies in a note that the net financial position at the end of March it stood at $668 million.
As for forecast for the second quarter, on which the impact of the coronavirus pandemic will inevitably be felt, STM expects net sales of two billion dollars, with a gross margin of 34,6%.
“We will drive the company's business based on a 2020 revenue plan of between $8,8 billion and $9,5 billion,” he said. Jean-Marc Chery, president and CEO of Stm – Our planning forecasts growth in the second half compared to the first six months of the year between 340 million and 1,04 billion dollars”.
Cuts coming instead for the capital expenditure plan 2020, which was reduced from $1,5 billion to between $1 and $1,2 billion.
Also new on the front coupon. The Supervisory Board of STM has in fact decided to propose to the next shareholders' meeting a reduction of the 2019 dividend from 0,24 dollars to 0,168 dollars per share, "with the authorization to consider, during the month of September 2020, the increase of such dividend up to a maximum of $0,24 per share”.
The decision was taken in light of the growing global social and economic turbulence caused by the Covid-19 epidemic and will be proposed to the shareholders' meeting scheduled for June 17th.
