Viskase Companies, Inc. Announces Earnings Results for the First Half Ended June 30, 2018
October 04, 2018 at 02:00 pm EDT
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Viskase Companies, Inc. announced earnings results for the first half ended June 30, 2018. For the first half, the company’s net sales increased from $188.8 million to $192.6 million, up 2% from the first half 2017 on a constant currency basis. The increase was driven primarily by higher demand for NOJAX and plastic casings. Operational EBITDA was $28.1 million or 14.6% of net sales on a constant currency basis, which was 30 basis points lower than prior year due to the gross margin drivers previously explained, partially offset by lower operating expenses excluding onetime integration cost. Total net debt decreased from $263.1 million at the end of 2017 to $226.1 million at June 30, 2018.
Viskase Companies, Inc. is a producer of non-edible cellulosic, fibrous and plastic casings, which is used to prepare, and package processed meat products. The Company provides value-added support services relating to these products for consumer products companies. The Companyâs products include cellulose casings, plastic casings, fibrous casings, netting and fabric, transfer casings, and applied technologies. Cellulose Casings are designed for automated production of tubular sausages, such as hot dogs, cooked sausages, dry salamis, pepperoni, mortadella. Plastic casings are casings for processed meat and poultry applications. Fibrous casings can be used for a range of applications, including pepperoni, salami, luncheon meats, boneless hams and other deli-style processed meats. The Company operates approximately 10 manufacturing facilities in North America, Europe, South America, and Asia. The Company sells its products in approximately 100 countries throughout the world.
VISKASE COMPANIES, INC. 
