Solucom Announces Audited Consolidated Earnings Results for the Year Ended March 31, 2016; Provides Earnings Guidance for the Year 2017
Solucom announced audited consolidated earnings results for the year ended March 31, 2016. For the year, the company reported revenues of EUR 233.0 million against EUR 163.1 million a year ago. Operating income on ordinary activities was EUR 29.8 million against EUR 21.1 million a year ago. Operating income was EUR 23.1 million against EUR 20.4 million a year ago. Group share of net income was EUR 13.4 million against EUR 12.6 million a year ago. The company generated net cash flow from operations of EUR 15.5 million on the back of a 19% increase in cash flow. Net financial debt stood at EUR 58.8 million for equity of EUR 85.0 million at the end of the period. Pre-tax income was EUR 21,781,000 against EUR 20,209,000 a year ago. Net results was EUR 13,358,000 against EUR 12,596,000 a year ago. Group share of diluted net profit per share was EUR 2.73 against EUR 2.57 a year ago. Intangible and fixed asset acquisitions was EUR 7,645,000 against EUR 983,000 a year ago.
At the financial level, the group is targeting consolidated revenues of over EUR 340 million in 2017, implying consolidated growth of more than 45% up 4% pro forma. Regarding profitability, the company is targeting an EBIT above EUR 34 million and a double-digit EBIT margin.