We expect revenues from the oil fracking business (about 15% of 2019 sales) to plummet by about 80%-90% in the trough. We expect SPCM's overall revenues to decline by 10%-20% in 2020, driven mainly by the oil and gas sector. However, we anticipate a rebound in oil-related revenues in 2021, mirroring our oil price expectations for recovery (see "S&P Global Ratings Cuts WTI And Brent Crude Oil Price Assumptions Amid Continued Near-Term Pressure", published March 19, 2020). This leads us to anticipate a strong recovery in sales volume next year. A €16 million provision related to a restructuring plan was recorded in the first quarter of 2020 in order to reorganize the oil and gas business in North America. SPCM
