EPRICE S.p.A. Announces Consolidated and Parent Company Earnings Results for the Full Year Ended December 31, 2016; Provides Earnings Guidance for the Year 2017
For the year, the parent company reported the company reported revenues of EUR 2,826,000 compared to EUR 1,833,000 a year ago. Operating loss was EUR 6,082,000 compared to EUR 4,567,000 a year ago. Loss before tax was EUR 6,123,000 compared to EUR 4,582,000 a year ago. Loss from continuing operations was EUR 6,123,000. Profit for the year was EUR 5,596,000 compared to loss of EUR 3,511,000 a year ago. Net cash flow used in operations was EUR 3,624,000 compared to EUR 6,006,000 a year ago. Acquisition of tangible assets was EUR 1,050,000 compared to EUR 49,000 a year ago. Acquisition of intangible assets was EUR 1,007,000 compared to EUR 1,128,000 a year ago.
The company provided earnings guidance for the year 2017. For the year, the company expects revenues up 15% to 18%, with an accelerated growth in the second half of the year, after a weak February, adversely affected by the planned transition of the ERP system to SAP, improvement in Gross margin and considerable increase in EBITDA compared to 2016 and capex to EUR 11 million, including one-off investments for the new logistics hub.