MND Group (Euronext Growth - FR0011584549 - ALMND) has entered into an agreement with its long-standing bank partners to renew its short and medium-term credit lines.

To mitigate the strong seasonal trends that impact its industry and business, the MND Group uses short-term credit lines to finance working capital during peak business periods.

Accordingly, the Group is delighted to announce the renewal of these lines of credit with its long-standing bank partners.

The agreement signed with these banks provides for (i) the renewal of the Group's short-term credit lines (overdraft facilities, receivables assignment under the “Dailly” Act, etc.) until 31 October 2019 and (ii) a 12-month extension to its medium-term financing arrangements and real estate finance leases.

Meanwhile, MND is also working on restructuring and extending its medium and long-term debt for the purposes of the 2020 strategic plan and the following period. MND will issue a press release informing the market of the progress of these negotiations.

Xavier Gallot-Lavallée, Chairman and Chief Executive Officer of MND Group, made the following comments:
“The renewal of our short-term credit lines by our long-standing bank partners reflects their confidence in our continued growth, while the first half of 2018/2019 demonstrated the Group's strong sales momentum with revenues up 25%, an improvement over the last two years. These financing arrangements will allow us to continue our sustained growth over the coming months, backed by a healthy order backlog of €174.4 million at 30 September 2018, and to take a big step towards achieving our revenue target of €150 million by 2020.”

ABOUT MND
In the heart of the Alps, the MND group brings together a full range of complementary skills. A key player in a sector where France excels, the group is a benchmark industrial partner in the fields of mobility, safety and leisure. Harmonious and innovative development for ropeway transport infrastructure, safety procedures, snowmaking systems and extreme sports facilities require a global approach. This industrial vision provides a relevant and effective response for multiple customers, facilitating their projects and satisfying end users. It enables the MND group to operate in all the major international markets. With five production sites, eight international distribution subsidiaries and 30 distributors worldwide, the MND Group employs 375 people and has approximately 3,000 customers in 49 countries. MND is listed on the Euronext Growth in Paris (FR0011584549 – MND).
More information at mnd-group.com

Contacts
MND Group – Roland Didier – Tel. +33 (0)4 79 65 08 90 – roland.didier@mnd-group.com
Financial press relations – Serena Boni – Tel. +33 (0)4 72 18 04 92 – sboni@actus.fr
Investor relations – Mathieu Omnes – Tel. +33 (0)1 53 67 36 92 – momnes@actus.fr