Chr. Hansen Holding A/S Reports Unaudited Earnings Results for the First Quarter Ended November 30, 2017; Reaffirms Earnings Guidance for the Fiscal Year 2017/18
January 12, 2018 at 07:00 am
Chr. Hansen Holding A/S reported unaudited earnings results for the first quarter ended November 30, 2017. For the quarter, the company's revenue was 254.5 million against 241.7 million a year ago. Operating profit (EBIT) was 64.7 million against 64.6 million a year ago. Profit before tax was 60.4 million against 61.8 million a year ago. Profit for the year was 46.5 million against 47.0 million a year ago. Profit attributable to shareholders of the company was 46.5 million or 0.35 per basic and diluted share against 47.0 million or 0.35 per diluted share a year ago. Cash flow from operating activities was 4.2 million against 2.4 million a year ago. Investments in intangible assets were 3.3 million against 3.0 million a year ago. Investments in property, plant and equipment was 19.9 million against 21.7 million a year ago. Negative free cash flow was 19.0 million against 93.0 million a year ago. EBITDA before special items was 80.0 million against 79.5 million a year ago. EBIT was 64.7 million against 64.6 million a year ago. Net interest-bearing debt as on November 30, 2017 was 646.5 million against 645.2 million a year ago.
The company reaffirmed earnings guidance for the fiscal year 2017/18, organic revenue growth is expected to be 8% to 10%. Free cash flow before acquisitions, divestments and special items is expected to be around the EUR 188 million. The EBIT margin before special items is expected to be around the 28.9%. The company continues to expect that reported revenue growth will be around 4 percentage points lower than organic growth, especially driven by the weaker U.S. dollar.