Koninklijke Wessanen N.V. announced unaudited consolidated earnings results for the second quarter and first half ended June 30, 2017. For the quarter, the company reported revenue of €160.8 million against €142.7 million a year ago. EBITDAIE was €13.6 million against €12.7 million a year ago. Normalized operating result (EBITE) was €11.6 million against €10.9 million a year ago. Operating result (EBIT) was €11.1 million against €10.3 million a year ago. Profit for the period was €7.1 million against €7.2 million a year ago.

For the first half, the company reported revenue of €325.6 million against €285.7 million a year ago. Operating result was €30.0 million against €24.4 million a year ago. Profit before income tax was €28.5 million against €23.8 million a year ago. Profit for the period attributable to equity holders of the company was €20.3 million or €0.27 basic and diluted per share against €16.3 million or €0.21 diluted per share a year ago. Net cash from operating activities was €23.4 million against €14.9 million a year ago. Acquisition of property, plant and equipment was €4.9 million against €1.7 million a year ago. Acquisition of intangible assets was €1.0 million against €1.4 million a year ago. Net debt as on June 30, 2017 was €71.1 million. EBITDAIE was €34.7 million against €28.5 million a year ago. Normalized operating result (EBITE) was €30.6 million against €25.0 million a year ago.

The company provided earnings guidance for the full year of 2017. For the year, total reported growth is expected to be low double-digit, with continued strong growth of own brands and the effect of 2016 acquisitions being partly offset by lower private label and distribution brand sales. They expect EBITE % of revenue to be above 8% for the full year, tax rate around 30%, capital expenditures in the range €13 million - €15 million and depreciation and amortization in the range of €9 million - €10 million.