Viscofan : Viscofan Group releases 2016 Third Quarter Results
October 27, 2016 at 12:26 pm EDT
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Main highlights of the July-September 2016 results
» €28.2 million in net profit from continuing operations, up 6.5% compared with the third quarter of the previous year.
» €48.2 million in quarterly EBITDA, representing a 1.2% growth in like-for-like terms, and a 5.3% year-on-year drop in reported numbers.
» The like-for-like EBITDA margin advanced by +0.6 p.p. to 27.8%.
» Revenue amounted to €180.5 million, down 2.5% year-on-year.
» €7.5 million net cash position. A solid balance sheet structure thanks to the strength of cash generated from operations while capex grew by 66.0% year-on-year to €56.9 million in the first nine months of 2016.
» In October 2016, the Viscofan Group signed the purchase of 100% of the share capital of the Vector companies in the USA and Europe. The operation reinforces the value proposal, product portfolio and the position of the Viscofan Group in the plastics technology sector.
» According to José Domingo de Ampuero y Osma, chairman of the Viscofan Group 'We are demonstrating our capacity to adapt to a lower growth environment, by improving internal efficiency and accelerating upgrade and expansion projects to take advantage of the organic growth of the industry'.
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Viscofan SA published this content on 27 October 2016 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 27 October 2016 16:26:09 UTC.
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Viscofan SA is a Spain-based company engaged in the packaging industry, mainly for meat products. The Company focuses on the manufacture and distribution of artificial castings, as well as plastic films that are used for separation of sliced food. Its products range includes cellulose, collagen, fibrous and plastic castings. In addition, it designs and produces packing machinery, as well as provides related spare parts. The Company also sells electric power, which is produced by cogeneration systems. The Company operates manufacturing plants and sales offices in Spain, Serbia, Czech Republic, Germany, Brazil, Mexico, Uruguay, China and the United States, among others. It controls a number of subsidiaries, such as Nanopack, Technology and Packaging SL, Naturin Viscofan GmbH and Viscofan Centroamerica Comercial SA.
VISCOFAN, S.A. 
