Frigoglass S.A.I.C. reports audited consolidated earnings results for the fourth quarter and year ended December 31, 2016. For the quarter, sales were EUR 90,309,000 against EUR 89,913,000 a year ago. EBITDA was EUR 4,197,000 against EUR 12,617,000 a year ago. Operating loss was EUR 1,993,000 against profit of EUR 3,530,000 a year ago. Net loss was EUR 18,930,000 against EUR 41,513,000 a year ago. Adjusted net loss was EUR 14,128,000 against EUR 15,930,000 a year ago. Capital expenditure was EUR 4,184,000 against EUR 9,653,000 a year ago. Net debt reached EUR 324.4 million, compared to EUR 304.5 million at the end of 2015. Loss per share was EUR 0.37. Adjusted loss per share was EUR 0.28. Loss after tax was EUR 17,136,000 against EUR 40,935,000 a year ago.

For the year, sales were EUR 413,203,000 against EUR 453,881,000 a year ago. EBITDA was EUR 40,123,000 against EUR 52,804,000 a year ago. Operating profit was EUR 10,339,000 against EUR 19,138,000 a year ago. Net loss was EUR 57,730,000 against EUR 62,086,000 a year ago. Adjusted net loss was EUR 35,392,000 against EUR 36,503,000 a year ago. Capital expenditure was EUR 13,772,000 against EUR 36,537,000 a year ago. Loss per share was EUR 1.14. Adjusted loss per share was EUR 0.70. Loss after tax was EUR 48,772,000 against EUR 58,315,000 a year ago. Net cash flow from operating activities was EUR 28,281,000 against cash flow used in operating activities of EUR 3,082,000 a year ago.

In 2017, capital expenditure is expected to increase to around EUR 28 million. Capital will be prioritised, ensuring protection of the long-term value of assets and within the context of maintaining a sustainable capital structure.