Asaleo Care Limited reported consolidated earnings results for the half year ended June 30, 2018. For the period, the company reported underlying revenue of AUD 267.2 million against AUD 294.2 million a year ago. Underlying EBITDA was AUD 46.3 million against AUD 60.9 million a year ago. EBIT was AUD 31.9 million against AUD 46.1 million a year ago. NPAT was AUD 17.8 million against AUD 28.2 million a year ago. EPS were 3.3 cents against 5.2 cents a year ago. Return on equity was 29.4% against 22.3% a year ago. Statutory net loss after tax was AUD 101.5 million or 18.7 cents per basic and diluted share against profit of AUD 27.7 million or 5.1 cents per basic and diluted share a year ago. Loss before income tax was AUD 132,124,000 against the profit of AUD 38,875,000 a year ago. Net cash inflow from operating activities was AUD 10,314,000 against AUD 54,211,000 a year ago. Payments for property, plant and equipment was AUD 9,157,000 against AUD 16,003,000 a year ago. LBITDA was AUD 111,156,000 against EBITDA of AUD 59,579,000 a year ago. Maintenance CapEx of AUD 8.7 million was largely spent on site improvements at the Box Hill and Kawerau plants, together with investment in dispensers aligned to growth in Professional Hygiene proprietary product sales. The growth CapEx of AUD 0.5 million was a deposit for a machine to improve the quality of incontinence product, which will be commissioned over the coming years. The company's net debt position was AUD 309.7 million at June 30, 2018, up from AUD 279.2 million at December 31, 2017. On statutory basis, Revenue from ordinary activities was AUD 267,245,000 against AUD 294,246,000 a year ago.

Unlike previous years, the company is forecasting that the second half result will be weaker than the first half. Anticipating underlying EBITDA to be lower in the second half, the company is focused on reducing net debt. There will be some increase in CapEx in H2, but not material amount.

As a result, in accordance with guidance issued in July, the company expects to deliver full year EBITDA in the range of AUD 80 million to AUD 85 million. The company is still generating solid profit, forecast to be AUD 80 million to AUD 85 million for full year 2018.