Picanol Group Announces Audited Consolidated Earnings Results for the Year Ended December 31, 2017; Provides Earnings Guidance for the First Six Months of 2018
Picanol Group announced audited consolidated earnings results for the year ended December 31, 2017. For the year, the company reported sales of EUR 688,928,000 against EUR 639,778,000 a year ago. Operating result was EUR 120,771,000 against EUR 120,981,000 a year ago. Total interest income was EUR 4,677,000 against EUR 2,785,000 a year ago. Profit before taxes was EUR 123,380,000 against EUR 121,765,000 a year ago. Profit after taxes was EUR 91,640,000 against EUR 88,383,000 a year ago. Profit was EUR 101,714,000 against EUR 119,725,000 a year ago. Net operating cash flow was EUR 77,944,000 against EUR 81,723,000 a year ago. Acquisitions of tangible and intangible fixed assets were EUR 12,319,000 against EUR 7,456,000 a year ago. Operating result per share was EUR 6.82 against EUR 6.83 a year ago. Profit before taxes per share was EUR 6.97 against EUR 6.88 a year ago. Basic and diluted earnings per share were EUR 5.75 against EUR 6.76 a year ago.
For the first six months of 2018, the order book is well-filled. For the first half of 2018 the company expects to realize a turnover in line with that of the first half of 2017, but is taking into account a further negative impact of rising commodity prices.