Texaf, S.A. announced unaudited consolidated earnings results for the six months ended June 30, 2017. For the six months, the company announced revenue from ordinary activities of EUR 9,079,000 compared to EUR 9,270,000 for the same period a year ago. Recurring EBITDA was EUR 4,996,000 compared to EUR 4,905,000 for the same period a year ago. Recurring operating result (recurring EBIT) was EUR 3,597,000 compared to EUR 3,451,000 for the same period a year ago. Operating result (EBIT) was EUR 180,000 compared to EUR 3,293,000 for the same period a year ago. Loss before tax was EUR 592,000 compared to results before tax of EUR 2,994,000 for the same period a year ago. Consolidated net result (group's share) was EUR 326,000 or EUR 0.093 per share compared to EUR 2,711,000 or EUR 0.765 per share for the same period a year ago. Cash flows from operating activities were EUR 5,744,000 compared to EUR 5,392,000 for the same period a year ago. The financial result was impacted by a foreign exchange loss of EUR 361,000 on the VAT credits held by the group and which are expressed in Congolese francs.

The company announced that barring an exceptional event, the recurring operating result for the second half of the year 2017 should be of the same order of magnitude as that for the first six months (that is EUR 3,597,000).