HKScan Corporation reported consolidated earnings results for the fourth quarter and full year ended December 31, 2015. For the quarter, the company's net sales were EUR 501.4 million compared to EUR 523.2 million a year ago. Operating loss or EBIT was EUR 0.6 million compared to operating profit of EUR 7.1 million a year ago. Loss before taxes was EUR 2.3 million compared to profit before taxes of EUR 4.3 million a year ago. Loss for the period was EUR 2.3 million or EUR 0.04 per share, compared to profit for the period of EUR 4.6 million or EUR 0.09 per share, a year ago.

For the full year, the company's net sales were EUR 1,917.1 million compared to EUR 1,988.7 million a year ago. Operating profit was EUR 9.6 million compared to operating profit of EUR 55.5 million a year ago. Profit before taxes was EUR 2.2 million compared to profit before taxes of EUR 51.2 million a year ago. Profit for the period was EUR 0.3 million or EUR 0.01 per share, compared to profit for the period of EUR 56.7 million or EUR 1.05 per share, a year ago. Cash flow from operating activities was EUR 66.8 million compared to EUR 63.3 million a year ago. Net debt was EUR 144.0 million compared EUR 141.5 million a year ago. Gross capital expenditure on PPE was EUR 49.6 million compared to EUR 48.7 million a year ago. Return on capital employed (ROCE) before taxes was 2.3% compared 9.7% a year ago. Net sales for the reporting period were down slightly on the corresponding period the previous year. The full year EBIT excluding non-recurring items nearly doubled on the previous year. Market areas Sweden, Finland and the Baltics improved their comparable EBIT, but Denmark fell short of the previous year. Progress was made in inventory management throughout the whole year, although in Finland frozen stocks of pork increased towards the year-end.

The company provided earnings guidance for the full year of 2016. The company expects the operating profit (EBIT) to improve from 2015.