SKAKO A/S reported consolidated earnings results for the second quarter and six months ended June 30, 2018. For the quarter, the company reported revenue of DKK 82,622,000 as compared to DKK 88,766,000 for the same period last year. Operating profit (EBIT) was DKK 186,000 as compared to DKK 4,915,000 for the same period last year. Operating profit (EBIT) after special items was DKK 186,000 as compared to DKK 4,233,000 for the same period last year. Loss before tax was DKK 561,000 as compared to profit of DKK 4,233,000 for the same period last year. Loss for the period was DKK 640,000 as compared to profit of DKK 4,239,000 for the same period last year. Loss for the period attributable to SKAKO A/S shareholders was DKK 640,000 as compared to profit of DKK 4,239,000 for the same period last year. Basic and diluted loss per share was DKK 0.21 as compared to earnings per share of DKK 1.37 for the same period last year. Cash flow from operating activities was DKK 12,744,000 as compared to DKK 5,922,000 for the same period last year. Investment in tangible assets was DKK 43,000 as compared to DKK 1,009,000 for the same period last year.

For the six months, the company reported revenue of DKK 159,639,000 as compared to DKK 176,053,000 for the same period last year. Operating loss (LBIT) was DKK 2,227,000 as compared to profit of DKK 7,720,000 for the same period last year. Operating loss (LBIT) after special items was DKK 2,227,000 as compared to profit of DKK 6,396,000 for the same period last year. Loss before tax was DKK 3,754,000 as compared to profit of DKK 6,396,000 for the same period last year. Loss for the period was DKK 3,912,000 as compared to profit of DKK 6,610,000 for the same period last year. Loss for the period attributable to SKAKO A/S shareholders was DKK 3,912,000 as compared to profit of DKK 6,610,000 for the same period last year. Basic and diluted loss per share was DKK 1.27 as compared to earnings per share of DKK 2.14 for the same period last year. Cash flow from operating activities was DKK 5,037,000 as compared to cash used in operating activities of DKK 1,047,000 for the same period last year. Investment in intangible assets was DKK 190,000 as compared to DKK 1,250,000 for the same period last year. Investment in tangible assets was DKK 1,249,000 as compared to DKK 2,445,000 for the same period last year.

The company have lowered guidance for 2018. It is now guiding for an operating profit (EBIT) of DKK 15 million - DKK 20 million.