UNIWHEELS AG announced earnings results for the first quarter ended March 31, 2017. For the quarter, the company reported revenue of EUR 131.6 million against EUR 109.1 million a year ago. EBITDA was EUR 17.9 million against EUR 14.1 million a year ago. EBIT was EUR 12.4 million against EUR 10.2 million a year ago. Net profit was EUR 16.4 million against EUR 10.5 million a year ago, benefited from positive non-recurring effect from fx derivative valuation of EUR 3.7 million. Capital expenditures and investments was EUR 6.2 million against EUR 23.3 million a year ago. Net debt was at EUR 48.5 million.

Regarding the outlook for 2017, the company confirmed the guidance that has been published together with the 2016 results. Wheels sales are expected to increase in 2017 between 10% - 15% yoy. Group revenues are forecasted to grow between 14% and 19% yoy, taking the aluminium price development into account. And an EBITDA increase by 15% to 20% yoy is expected.