EQL Pharma AB Announces Unaudited Consolidated and Nonconsolidated Earnings Results for the First Quarter Ended March 31, 2017; Provides Earnings Guidance for 2017
For the first quarter, the parent company's net sales were SEK 4,018,000 against SEK 12,874,000 a year ago. LBITDA was SEK 312,000 against EBITDA of SEK 4,196,000 a year ago. LBIT was SEK 557,000 against EBIT of SEK 3,839,000 a year ago. Net loss for the period was SEK 557,000 against net profit for the period of SEK 3,834,000 a year ago. Cash flow from operating after change in working capital was SEK 757,000 against SEK 1,284,000 a year ago.
For the year, the company expects to growing profitability at least at the same rate as sales growth. The growth will be distributed unevenly over the 5-year period. Due to the temporary withdrawal for EQL Hydroxyzine from the market, sales for 2017 are expected to be around SEK 4 million to SEK 5 million lower than in 2016. Therefore, the profit for 2017 is expected to decline to around negative SEK 2 million for the year.