Koninklijke Wessanen N.V. Reports Consolidated Earnings Results for the Third Quarter and Nine Months of 2017. Provides Earnings Guidance for the Year 2017
For the nine months, the company reported revenue of EUR 473.0 million against EUR 423.2 million a year ago. EBITDAIE was EUR 49.8 million against EUR 40.5 million a year ago. Operating result (EBIT) was EUR 42.2 million against EUR 33.0 million a year ago. Profit for the period was EUR 28.8 million against EUR 22.3 million a year ago.
The company announced that for the year 2017, total reported growth is expected to be low double-digit, with continued strong growth of own brands and the effect of 2016 acquisitions being partly offset by lower private label and distribution brand sales; the company expects EBITE % of revenue to be above 8% for the full year; tax rate around 30%; capital expenditures of EUR 12-14 million; and depreciation and amortisation of EUR 9-10 million.