Weifa ASA reported unaudited consolidated earnings results for the second quarter and six months ended June 30, 2017. For the quarter, the company reported total revenues of NOK 98,576,000 compared to NOK 95,344,000 a year ago. Operating profit was NOK 17,863,000 against NOK 13,961,000 a year ago. Profit before tax was NOK 14,151,000 against loss of NOK 8,190,000 a year ago. Profit for the period was NOK 10,756,000 against loss of NOK 6,142,000 a year ago. Diluted earnings per share were NOK 0.28 against loss of NOK 0.16 a year ago. Net cash flow from operating activities was NOK 18,905,000 against NOK 11,676,000 a year ago. Purchase of equipment was NOK 294,000. EBITDA was NOK 21,054,000 compared to NOK 17,147,000 a year ago. Adjusted EBITDA was NOK 22.1 million compared to NOK 18.6 million a year ago.

For the six months, the company reported total revenues of NOK 198,161,000 compared to NOK 191,497,000 a year ago. Operating profit was NOK 35,920,000 against NOK 27,238,000 a year ago. Profit before tax was NOK 28,975,000 against NOK 399,000 a year ago. Profit for the period was NOK 22,022,000 against NOK 301,000 a year ago. Diluted earnings per share were NOK 0.58 against loss of NOK 0.01 a year ago. Net cash flow from operating activities was NOK 50,424,000 against NOK 17,795,000 a year ago. Purchase of equipment was NOK 294,000. EBITDA was NOK 42,297,000 compared to NOK 33,610,000 a year ago. Adjusted EBITDA was NOK 44.358 million compared to NOK 40.504 million a year ago.

For the year 2017, the company expected an adjusted EBITDA margin on a par with the 2016 level owing to geographical market expansion. The EBITDA margin is expected to improve gradually in a long-term perspective.