Harboes Bryggeri A/S reported group and parent audited earnings results for the full year of 2015. For the year, on group basis, the company reported revenue of DKK 1,371,335,000 against DKK 1,420,112,000 a year ago. Operating profit (EBIT) was DKK 38,644,000 against DKK 16,695,000 a year ago. Profit before tax was DKK 33,384,000 against DKK 10,403,000 a year ago. Net profit for the year was DKK 24,011,000 or DKK 5.15 diluted per 10 shares against DKK 10,591,000 or DKK 2.02 diluted per 10 shares a year ago. Cash flows from operating activities were DKK 109,908,000 against DKK 46,598,000 a year ago. Purchase of intangible assets was DKK 1,952,000 against DKK 2,330,000 a year ago. Purchase of property, plant and equipment was DKK 52,500,000 against DKK 43,564,000 a year ago. The slight fall in revenue is due to challenging market conditions in a number of the group's markets, but also to a number of strategic adjustments of the product mix, replacing large amounts of smaller with better earnings contribution. Net interest-bearing debt was DKK 154.4 million against DKK 196.8 million a year ago.

For the year, on parent basis, the company reported revenue of DKK 560,141,000 against DKK 618,089,000 a year ago. Operating loss (LBIT) was DKK 13,286,000 against DKK 10,520,000 a year ago. Loss before tax was DKK 15,902,000 against DKK 13,337,000 a year ago. Net loss for the year was DKK 12,285,000 against DKK 7,709,000 a year ago. Cash flows from operating activities were DKK 52,587,000 against cash outflow from operating activities of DKK 1,818,000 a year ago. Purchase of intangible assets was DKK 1,888,000 against DKK 1,821,000 a year ago. Purchase of property, plant and equipment was DKK 33,927,000 against DKK 18,317,000 a year ago.

The company expects all the group's business units to contribute positively to the earnings performance in fiscal 2016. The company thus expects positive development and EBITDA in the range of DKK 120 million to DKK 140 million. Profit before tax is expected to be in the range of DKK 35 million to DKK 45 million in fiscal 2016.