Wessanen Announces Consolidated Earnings Results for the Third Quarter and Nine Months of 2016; Provides Earnings Guidance for the Fiscal Year 2016
For the nine months, revenue was EUR 423.2 million compared to EUR 389.1 million a year ago. EBITDAIE was EUR 40.5 million compared to EUR 34.7 million a year ago. Normalised operating result was EUR 35.0 million compared to EUR 28.6 million a year ago. Operating result (EBIT) was EUR 33.0 million compared to EUR 28.1 million a year ago. Profit after income tax from continuing operations was EUR 22.3 million compared to EUR 17.3 million a year ago. Profit for the period was EUR 22.3 million compared to EUR 22.2 million a year ago.
For the fiscal year 2016, total autonomous revenue growth is expected at the upper end of long term guidance range of 5%-7%. It expects to report a higher EBITE in 2016 versus 2015, an increase of the EBITE % of revenue. Tax rate is expected to be around 30%; capital expenditures are expected to be in the range of EUR 8 million - EUR 9 million and depreciation and amortisation are expected to be in the range of EUR 7 million - EUR 8 million.