Koninklijke Wessanen N.V. reported consolidated earnings results for the third quarter and nine months of 2017. For the quarter, the company reported revenue of EUR 147.4 million against EUR 137.5 million a year ago. EBITDAIE was EUR 15.1 million against EUR 12.0 million a year ago. Operating result (EBIT) was EUR 12.2 million against EUR 8.6 million a year ago. Profit for the period was EUR 8.5 million against EUR 6.0 million a year ago. Net debt was EUR 69.6 million against EUR 35.3 million a year ago. EBITE increased by EUR 2.8 million, mainly driven by higher gross profit and lower expenses, including lower share-based payment expenses of 0.9 million, and the effect of the acquisitions made in 2016. Higher A&P investments partly offset the EBITE increase.

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.