HiMedia Group reported audited consolidated earnings results for the year ended December 31, 2016. For the year, the company reported sales of EUR 59,151,000 compared to EUR 64,744,000 a year ago. EBITDA was EUR 1,116,000 compared to EBITDA loss of EUR 10,364,000 a year ago. Operating loss was EUR 734,000 compared to EUR 38,805,000 a year ago. Loss of the consolidated companies was EUR 1,031,000 compared to EUR 39,530,000 a year ago. Loss before tax of the consolidated companies was EUR 983,000 compared to EUR 39,592,000 a year ago. Net loss of the consolidated companies was EUR 1,316,000 compared to EUR 44,230,000 a year ago. Net loss was EUR 1,316,000 or EUR 0.38 per basic and diluted share compared to EUR 40,283,000 or EUR 13.40 per basic and diluted share a year ago. Net cash flow used in operating activities was EUR 5,832,000 compared to EUR 16,662,000 a year ago. Acquisition of fixed assets was EUR 1,297,000 compared to EUR 3,071,000 a year ago.

The group expects consolidated revenue to expand as of the second quarter, driven by sustained momentum in growth activities and a more modest contraction in legacy activities. It is therefore forecasting growth in consolidated revenue and a further improvement in EDITBA in 2017.