HKScan Corporation Announces Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2017; Revises Earnings Guidance for the Year 2017
For the year, the company reported Net Sales were EUR 1,808.1 million against EUR 1,872.9 million a year ago. LBIT was EUR 40.3 million against EBIT of EUR 9.7 million a year ago. Loss before taxes was EUR 49.2 million against profit of EUR 0.9 million a year ago. Loss was EUR 42.4 million against EUR 3.6 million a year ago. LPS, diluted, continuing operations was EUR 0.84 against EUR 0.10 a year ago. Comparable LBIT was EUR 17.6 million against EBIT of EUR 13.2 million a year ago. Comparable loss before taxes was EUR 26.5 million against profit of EUR 4.4 million a year ago. Net debt was EUR 208.2 million against EUR 137.2million a year ago. The group's interest-bearing debt at the year-end increased to EUR 259.2 million against EUR 144.1 million a year ago. Cash flow from operating activities was EUR 45.7 million against EUR 70.9 million a year ago. Gross capital expenditure on PPE was EUR 125.5 million against EUR 97.6 million a year ago.
The company revised its operating profit outlook on 31 October 2017 and estimated its comparable operating profit (EBIT) for 2017 to be at loss.