Hamon information reported consolidated earnings results for the first half year of 2015. For the period, the company reported revenue of EUR 297,543,000 compared to EUR 296,805,000 a year ago. Operating profit before non-recurring items was EUR 4,977,000 compared to EUR 6,251,000 a year ago.

Operating loss was EUR 339,000 compared to operating profit of EUR 5,417,000 a year ago. Result before tax was negative at EUR 3,585,000 compared to EUR 250,000 a year ago. Net result from continued operations was negative EUR 4,852,000 or EUR 0.50 diluted per share compared to net result from continued operations of EUR 1,509,000 or EUR 0.28 diluted per share a year ago.

Net loss was EUR 4,852,000 or EUR 0.50 diluted per share compared to net profit from EUR 1,509,000 or EUR 0.28 diluted per share a year ago. Net cash from operating activities was EUR 43,167,000 compared to EUR 1,621,000 a year ago. Purchase of other intangible assets was EUR 855,000 compared with EUR 746,000 for the same period last year.

EBITDA is slightly below half of 2014 EBITDA because of the still negative contribution of the process Heat Exchangers BU and some non-recurring costs. Excluding this BU, the EBITDA of the other BUs increased by 26%, from EUR 13.5 million to EUR 17.0 million. The net result is negative, because of non-recurring items like restructuring costs, write-down on some non-trade receivables of the PHE BU and the taxes in the US.