Viscofan : Viscofan releases 2016 second quarter results
July 28, 2016 at 12:26 pm EDT
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Main highlights of the April-June 2016 results
» €32.6 million in net profit from continuing operations, up 8.6% compared with the second quarter of 2015.
» Quarterly EBITDA of €51.5 million, down 4.6% year on year and 0.1% in like-for-like terms stripping out the impact of currencies.
» The like-for-like EBITDA margin advanced by 0.1 p.p. to 28.4%.
» Revenue amounted to €182.4 million, down 4.4% year-on-year and down 0.6% in like-for-like terms.
» Net bank debt of €13.0 million compared with a net cash position of €3.2 million in December 2015 as a result of the payment of a final gross dividend of €0.82 per share in June 2016.
» According to José Domingo de Ampuero y Osma, chairman of the Viscofan Group 'Global presence and better production footprint help us to achieve again organic growth in main casings markets with the exception of Latin America. In an environment of weak performance in Latin America and forex headwinds, we reiterate our initial guidance on Net profit growth, but we lower our outlook for Revenue and EBITDA growth. In operating terms, investment plans are progressing well, in line the growth prospects for the midterm set out in our strategic plan 'MORE TO BE 2016-2020' '.
For more information please find attached the Management Report.
Viscofan SA published this content on 28 July 2016 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 28 July 2016 16:26:06 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. 
