Beijer Electronics Group Announces Group and Parent Company Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2017; Provides Earnings Guidance for the Full Year of 2018
For the year, on group basis, the company reported net turnover of SEK 1,205,912,000 compared to SEK 1,121,509,000 a year ago. EBITDA was SEK 90,326,000 compared to SEK 23,019,000 a year ago. EBIT was SEK 18,016,000 compared to LBIT of SEK 39,355,000 a year ago. Loss before tax was SEK 3,837,000 compared to SEK 124,199,000 a year ago. Net loss attributable to equity holders of the parent was SEK 6,988,000 or SEK 0.24 per basic and diluted share compared to SEK 126,061,000 or SEK 4.40 per diluted share a year ago. Loss on equity after tax was 1.2% compared to 26.6% a year ago. Return on net operating assets was 2.5% compared to loss of 5.8% a year ago. Cash flow from operating activities was SEK 47,861,000 compared to SEK 9,365,000 a year ago.
For the quarter, on parent company basis, the company reported net sales of SEK 7,941,000 compared to SEK 9,470,000 a year ago. LBIT was SEK 8,394,000 compared to SEK 8,519,000 a year ago. Loss before tax was SEK 8,076,000 compared to SEK 5,742,000 a year ago. Net profit was SEK 35,863,000 compared to loss of SEK 2,106,000 a year ago.
For the year, on parent company basis, the company reported net sales of SEK 31,767,000 compared to SEK 37,883,000 a year ago. LBIT was SEK 30,877,000 compared to SEK 36,624,000 a year ago. Loss before tax was SEK 52,267,000 compared to SEK 69,833,000 a year ago. Net profit was SEK 808,000 compared to loss of SEK 60,250,000 a year ago.
For the full year 2018, the company expects to be able to increase sales and earnings compared to 2017.