Wessanen Reports Earnings Results for the Fourth Quarter and Full Year of 2017; Provides Earnings Guidance for the Full Year of 2018
For the full year of 2017, the company expects revenue growth of 9.8% to EUR 625.8 million. EBITE was EUR 53.5 million, up 30% against the prior year.
The company provided earnings guidance for the full year of 2018. For the period, the company expects continued strong growth of own brands and a further reduction of private label sales. The company expects EBITE % of revenue to increase for the full year. Tax rate expected to be around 30%. Capital expenditures expenditures expected to be in the range of EUR 11 million to EUR 13 million. Depreciation and amortization expected to be in the range of EUR 9 million to EUR 10 million.