Olvi plc Reports Unaudited Group Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2015; Provides Earnings Guidance for the Year 2016
February 25, 2016 at 07:00 am
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Olvi Plc reported unaudited group earnings results for the fourth quarter and full year ended December 31, 2015. For the quarter, the group reported net sales of EUR 68,830,000 against EUR 66,340,000 a year ago. Operating profit was EUR 6,328,000 against EUR 4,500,000 a year ago. Earnings before tax were EUR 5,946,000 against EUR 3,730,000 a year ago. Net profit was EUR 5,045,000 against EUR 3,649,000 a year ago. EBITDA was EUR 10.5 million compared to EUR 8.2 million a year ago. Gross capital expenditure was EUR 4.8 million against EUR 9.7 million a year ago. Earnings per share stood at EUR 0.24 against EUR 0.18 a year ago.
For the year, the group reported net sales of EUR 310,494,000 against EUR 320,785,000 a year ago. Operating profit was EUR 38,157,000 against EUR 41,000,000 a year ago. Earnings before tax were EUR 26,818,000 against EUR 41,053,000 a year ago. Net profit was EUR 22,220,000 against EUR 33,079,000 a year ago. The decline in profit was affected by EUR 10.5 million of intra-group unrealized exchange rate losses on Belarusian operations, which were recognized in financial items. Cash outflow from operations was EUR 61,668,000 against EUR 46,349,000 a year ago. EBITDA was EUR 54.5 million compared to EUR 55.9 million a year ago. Gross capital expenditure was EUR 26.0 million against EUR 41.6 million a year ago. Earnings per share stood at EUR 1.08 against EUR 1.57 a year ago.
The company provided earnings guidance for the year 2016. For the year, the company estimates that the group's sales volume and net sales will increase slightly on the previous year. Operating profit is estimated to be on a par with the previous year or increase slightly.
Olvi Oyj is a Finland-based company engaged in the beverage industry. The Company specializes in the development, manufacture and marketing of beers, ciders, kvass, long drinks, soft drinks, juices, snack drink, mineral waters and energy drinks. Its beverage portfolio comprises a range of brands: OLVI, Sandels, A. le Coq, FIZZ, Sherwood, Sven Tuuva, Tuntematonsotilas, Balanssi, TEHO, KevytOlo, Olvi Vichy, Angry Birds, Hello Kitty, and HeviSaurus, among others. It is present in Finland, Estonia, Latvia, Lithuania and Belarus. Furthermore, the Company operates through a number of direct and indirect subsidiaries, such as AS A Le Coq, OAO Lidskoe Pivo, AB Volfas Engelman, A/S Cesu Alus, AS Karme and Verska Mineraalvee OU.
Olvi plc Reports Unaudited Group Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2015; Provides Earnings Guidance for the Year 2016