SnowWorld N.V. Reports Unaudited Consolidated Earnings Results for the First Half Year Ended March 31, 2017; Provides Earnings Guidance for the Full Year 2017
SnowWorld N.V. reported unaudited consolidated earnings results for the first half year ended March 31, 2017. For the year, the company reported net revenue of EUR 19,345,000 against EUR 18,685,000 a year ago. EBITDA was EUR 9,108,000 against EUR 8,881,000 a year ago. Operating result was EUR 7,256,000 against EUR 7,120,000 a year ago. Result after tax was EUR 4,781,000 against EUR 4,652,000 a year ago. Result before tax was EUR 6,337,000 against EUR 6,192,000 a year ago. Basic and diluted earnings per share were EUR 1.58 compared to EUR 1.54 a year ago. Cash flow from operating activities was EUR 7,021,000 against EUR 7,968,000 a year ago. Investments in property, plant and equipment was EUR 2,588,000 against EUR 3,227,000 a year ago.
The performance for this period therefore lays a very strong foundation for the results for the full financial year. Given the developments during the first half-year, and the closing of the third ski slope in Zoetermeer last summer, the company is positive about the entire 2016/2017 financial year. For the entire 2016/2017 financial year, the company expects to achieve a higher EBITDA and higher net profit than in the previous financial year. Earnings per share are also expected to be higher than in the previous year.