SnowWorld reported unaudited consolidated earnings results for the first half ended March 31, 2018. For the period, the company reported net revenue of EUR 18,135,000 compared to EUR 19,345,000 a year ago. Operating result was EUR 6,268,000 compared to EUR 7,256,000 a year ago. Result before tax was EUR 5,447,000 compared to EUR 6,337,000 a year ago. Result after tax was EUR 4,094,000 compared to EUR 4,781,000 a year ago. EBITDA was EUR 8,078,000 compared to EUR 9,108,000 a year ago. EBIT was EUR 6,268,000 compared to EUR 7,256,000 a year ago. Diluted EPS was EUR 1.29 compared to EUR 1.52 a year ago. Cash flow from operating activities was EUR 6,481,000 compared to EUR 7,021,000 a year ago. Investments in property, plant and equipment was EUR 1,187,000 against EUR 2,588,000 a year ago.

The company provided earnings guidance for the full year of 2018. The company generates over 70% of its annual turnover in the first six months of the year. The performance for this period therefore lays a very strong foundation for the results for the full financial year. Given the developments during the first half year, the company expects to arrive at lower EBITDA and lower operating net profit than in the previous financial year. As the net profit in the previous financial year was negatively influenced by a one-off write-down of capitalized development costs of EUR 1.0 million, the company expects to be able to realize a comparable net profit for 2017/2018. Earnings per share are also expected to be similar to those of last year. The regular investments are expected to amount to a maximum of EUR 1.7 million this financial year.