Picanol Group Announces Audited Consolidated Earnings Results for the Year Ended December 31, 2016; Provides Earnings Guidance for the First Six Months of 2017
Picanol Group announced audited consolidated earnings results for the year ended December 31, 2016. For the year, the company reported sales of EUR 639,778,000 against EUR 529,344,000 a year ago. Operating result was EUR 120,981,000 against EUR 83,578,000 a year ago. Total interest income was EUR 2,785,000 against EUR 2,802,000 a year ago. Profit before taxes was EUR 121,765,000 against EUR 84,682,000 a year ago. Profit after taxes was EUR 88,383,000 against EUR 60,603,000 a year ago. Profit was EUR 119,725,000 against EUR 85,692,000 a year ago. Net operating cash flow was EUR 81,723,000 against EUR 86,875,000 a year ago. Acquisitions of tangible and intangible fixed assets were EUR 7,456,000 against EUR 8,109,000 a year ago. Operating result per share was EUR 6.83 against EUR 4.72 a year ago. Profit before taxes per share was EUR 6.88 against EUR 4.78 a year ago. Basic and diluted earnings per share were EUR 6.76 against EUR 4.84 a year ago. The turnover of the company increased in 2016 by 24% compared to 2015 driven by the strong order book for weaving machines in 2016.
For the first six months of 2017, the order book is well-filled. The company expects a slight increase in turnover for the first half of 2017 compared to the first half of 2016, but is taking into account a limited impact of rising commodity prices.