HKScan Corporation Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2016; Reaffirms Earnings Guidance for 2016
For six months, net sales were EUR 921.8 million against EUR 940.8 million a year ago. Operating loss was EUR 2.6 million against profit of EUR 2.9 million a year ago. Loss before taxes was EUR 7.1 million against EUR 1.9 million a year ago. Loss for the period was EUR 10.0 million against EUR 2.0 million a year ago. Loss per share, diluted and undiluted, continuing operations was EUR 0.18 against EUR 0.04 a year ago. Cash flow from operating activities was EUR 21.0 million against EUR 34.8 million a year ago. Gross capital expenditure on PPE, was EUR 35.4 million against EUR 25.6 million a year ago.
The company announced that outlook for 2016 remains unchanged. The company expects comparable operating profit (EBIT) to improve from 2015.