Chr. Hansen Holding A/S Reports Unaudited Earnings Results for the First Quarter Ended November 30, 2016; Provides Earnings Guidance for the Fiscal Year 2017
January 11, 2017 at 07:00 am
Chr. Hansen Holding A/S reported unaudited earnings results for the first quarter ended November 30, 2016. For the quarter, the company's revenue was 241.7 million against 214.4 million a year ago. Operating profit (EBIT) was 64.6 million against 54.0 million a year ago. Profit before tax was 61.8 million against 51.8 million a year ago. Profit for the period was 47.0 million against 38.9 million a year ago. Profit attributable to shareholders of Chr. Hansen Holding A/S was 47.0 million against 38.9 million a year ago. Earnings per share diluted were 0.35 against earnings per share basic and diluted of 0.30 a year ago. Cash flow from operating activities was 2.4 million against 1.2 million a year ago. Investments in intangible assets were 3.0 million against 5.2 million a year ago. Investments in property, plant and equipment was 21.7 million against 12.6 million a year ago. EBITDA was 79.5 million against 66.6 million a year ago. EBIT before special items was 65.5 million against 54.0 million a year ago. Net interest-bearing debt as on November 30, 2016 was 645.2 million against 512.7 million a year ago. The free cash flow before acquisitions and special items was a negative 19 million, which was slightly below last year, and that of course is due to an increased investment level.
The company expects tax rate to be 24% for the fiscal year 2017. The company is maintaining the outlook for the year of 8% to 10% organic growth and a slight increase in EBIT margin compared to last year. The free cash flow is still expected to be around the same level as last year due to higher investment level.