Park Street Nordicom A/S Reports Unaudited Consolidated Earnings Results for the First Half Ended 30 June 2017; Provides Earnings Guidance for the Year 2017
The company expectations for EBVAT (earnings before value adjustments and tax) at year-end 2017 is DKK 25 million - DKK 35 million before the inclusion of profits that are achieved or expected to be achieved as a result of cancellation of financial liabilities, etc., which is a reduction from previous DKK 30 40 million. The change is in view of delayed implementation of terms of financial restructuring and refinancing as agreed by banks. The increases in EBVAT compared to 2016 is based on the restructuring process being implemented from 1 July 2017, but the company's final profit for 2017 may be affected significantly either positively or negatively, depending on the outcome and timing of the restructuring process.