Kotipizza Group Oyj announced unaudited consolidated earnings results for the fourth quarter and year ended January 31, 2017. For the quarter, the company reported net sales of EUR 18,407,000 compared to EUR 14,605,000 a year ago. Operating profit was EUR 1,098,000 compared to EUR 846,000 a year ago. Profit before taxes from continuing operations was EUR 904,000 compared to EUR 664,000 a year ago. Profit for the period from continuing operations was EUR 666,000 compared to EUR 809,000 a year ago. Profit for the period was EUR 666,000 or EUR 0.10 per basic and diluted share compared to EUR 809,000 or EUR 0.13 per basic and diluted a year ago. Comparable EBIT was EUR 1,290,000 compared to EUR 846,000 a year ago. EBITDA was EUR 1,338,000 against EUR 1,165,000 a year ago. Comparable EBITDA was EUR 1,530,000 compared to EUR 1,165,000 a year ago. The EBIT improved mainly due to volume improvement, but the sales margin also improved slightly from the previous year.

For the year, the company reported net sales of EUR 68,737,000 compared to EUR 56,370,000 a year ago. Operating profit was EUR 5,246,000 compared to EUR 3,435,000 a year ago. Profit before taxes from continuing operations was EUR 4,469,000 compared to EUR 452,000 a year ago. Profit for the period from continuing operations was EUR 3,464,000 compared to EUR 328,000 a year ago. Profit for the period was EUR 3,464,000 or EUR 0.55 per diluted compared to EUR 215,000 or EUR 0.08 per diluted a year ago. Net cash flows from operating activities were EUR 5,278,000 compared to net cash used in operating activities of EUR 671,000 a year ago. Investments for tangible assets were EUR 121,000 compared to EUR 611,000 a year ago. Investments for non-tangible assets were EUR 728,000 compared to EUR 1,364,000 a year ago. Comparable EBIT was EUR 5,747,000 compared to EUR 4,274,000 a year ago. EBITDA was EUR 6,225,000 against EUR 4,187,000 a year ago. Comparable EBITDA was EUR 6,726,000 compared to EUR 5,026,000 a year ago. Net debt as on January 31, 2017 was EUR 7,344,000 against EUR 9,305,000 as on January 31, 2016. The EBIT improved mainly due to volume improvement, but the sales margin also improved slightly from the previous year. Fixed cost growth was also below the volume growth. The clearly higher depreciations compared to the previous year (non-cash item) had a negative impact on the EBIT.

The company provided earnings guidance for the year 2018. The group estimates for the full financial year that the chain-based net sales will grow by over 5% as compared to the previous financial year and that comparable EBITDA will grow as compared to the previous year.