Q1 2020 FILA Fabbrica Italiana Lapis ed Affini SpA Earnings Call Transcript
Good afternoon and welcome everybody at this meeting. I think that we can start saying that we are realistically satisfied about the results we have been able to achieve in this first quarter. It is true that 2020, we have announced several times that would have been the year in which FILA would have accomplished all the targets and the best expectations, which was happening in fact until mid-March. Then as everybody knows, after mid-March, we entered in this new reality of COVID. And the situation is clearly under serious monitoring and control from us.
The first quarter is telling us that we have been able anyway to reach a minimum organic growth and also a very good cash generation, as already happened in the last -- in the year 2019. I would say since FILA have announced to have finalized all the complicated reorganization, restructuration process, and SAP go live in the different areas of the world. So, I think this is an important point to stress. The company now is back to a positive cash generation, is now implementing a
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