Sequana S.A. reported consolidated earnings results for the six months ended June 30, 2016. For the six months, the company reported sales of €1.539 million compared to €1.662 million a year ago. Recurring operating income was €34 million compared to €36 million a year ago. Operating loss was €11 million compared to operating income of €24 million a year ago. Net loss was €28 million compared to €11 million a year ago. Basic and diluted earnings per share from continuing operations was €0.44 compared to €0.17 a year ago. Net cash used in operating activities was €117 million compared to €95 million a year ago. Expenditure on acquisitions of property, plant and equipment and intangible assets was €18 million compared to €23 million a year ago.

The company expected reported 2016 full-year EBITDA to be down on its 2015 reported EBITDA, with its net debt/EBITDA (leverage) ratio standing between 2.5x and 3.0x at December 31, 2016.