Weifa ASA reported unaudited consolidated earnings results for the second quarter and six months of 2016. For the quarter, the company reported total revenues of NOK 95.3 million, representing an increase of 35% compared with NOK 70,606,000 the same period a year earlier. EBITDA was 17,147,000 against NOK 10,993,000 a year ago. Adjusted EBITDA was NOK 18.6 million against NOK 12.7 million a year ago. Loss from continuing operations was NOK 6,142,000 against profit from continuing operations of NOK 2,476,000 a year ago. Diluted loss per share was NOK 0.01 against NOK 0.00 a year ago. Cash flow from operating activities was NOK 17,690,000 against NOK 3,502,000 a year ago. Operating profit was NOK 13,961,000 against NOK 7,226,000 a year ago. Loss before tax from continuing operations was NOK 8,190,000 against profit before tax from continuing operations of NOK 3,390,000 a year ago.

For the six months, the company reported total revenue and income was NOK 191,497,000 against NOK 157,993,000 a year ago. EBITDA was 33,610,000 against NOK 28,459,000 a year ago. Profit from continuing operations was NOK 301,000 against NOK 8,980,000 a year ago. Diluted earnings per share were NOK 0.00 against NOK 0.01 a year ago. Cash flow from operating activities was NOK 23,873,000 against NOK 3,863,000 a year ago. EBITDA adjusted was NOK 40,504,000 against NOK 31,579,000 a year ago. Operating profit was NOK 27,238,000 against NOK 21,660,000 a year ago. Profit before tax from continuing operations was NOK 399,000 against NOK 12,301,000 a year ago.

The company expects organic revenue growth and an improved EBITDA margin for 2016 compared with the year 2015.