Refresco reports increased volumes and net profit in Q3 2016
(Thomson Reuters ONE) -
Rotterdam, the Netherlands - November 10, 2016. Refresco Group N.V. publishes
third quarter 2016 results.
Q3 2016 highlights:
* Total volume increased 8.0% to 1,803.8 million liters.
* Co-Packing volumes grew by 61.1% to 486.3 million liters. Private Label
volumes decreased 3.7% to 1,317.5 million liters.
* Gross profit margin per liter was 13.8 euro cents (Q3 2015: 13.9 euro
cents).
* Adjusted EBITDA increased 6.8% to ?67.9 million.
* Adjusted net profit increased 15.3% to ?31.6 million.
* Adjusted EPS increased 15.0% to 39.0 euro cents.
In millions of ?, unless stated otherwise Q3 2016 Q3 2015 YTD 2016 YTD 2015
Un-audited
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Volume (millions of liters) 1,803.8 1,670.3 4,831.8 4,719.8
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Revenue 571.7 539.2 1,578.3 1,545.8
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Gross profit margin per liter (euro 13.8 13.9 14.1 14.1
cents)[1]
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EBITDA 65.9 63.0 166.5 142.5
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Adjusted EBITDA 67.9 63.6 170.5 168.4
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Net profit / (loss) 30.2 27.0 64.8 17.2
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Adjusted net profit / (loss) 31.6 27.4 67.8 59.1
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Adjusted EPS[2] (euro cents) 39.0 33.9 83.5 74.8
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Net debt ratio (net debt/LTM adj. EBITDA) - - 2.9 2.1
CEO Refresco, Hans Roelofs: "Our total volume and results developed favorably in
the quarter. Volume growth was primarily driven by recent acquisitions and our
strategy to rapidly grow the Co-Packing business. Strong comparatives last year,
linked to good weather, and our earlier decision to discontinue low margin-large
volume contracts was reflected in our lower Private Label volumes in the third
quarter. The strong growth in Co-Packing especially has helped us to slightly
outperform the soft drinks market in Europe on a like-for-like basis.
We finalized the acquisition of US-based Whitlock Packaging in September and the
integration of the newly acquired company is well on track creating a solid
platform to execute our growth strategy in North America."
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[1] Gross profit margin per liter, adjusted EBITDA, adjusted EPS (euro cents)-
pro forma, net debt ratio (net debt/LTM adjusted EBITDA) and adjusted net
profit/(loss) are not a measure of our financial performance under IFRS. We
apply adjusted EBITDA and adjusted net profit to exclude the effects of certain
exceptional charges that we believe are not indicative of our underlying
operating performance. Such adjustments relate primarily to substantial one-off
restructurings, costs relating to acquisitions or disposals, refinancing, IPO
relating costs and related tax effect.
[2] Adjusted EPS has been calculated based upon adjusted net profit. The number
of issued shares amounts to 81.2 million shares in Q3 2016 and in Q3 2015. YTD
2015 the number of shares was determined on a pro forma basis of 79.0 million.
Please open the link below for the press release:
Refresco reports increased volumes and net profit in Q3 2016:
http://hugin.info/169419/R/2055743/769914.pdf
This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Refresco via GlobeNewswire
Unternehmensinformation / Kurzprofil:
Datum: 10.11.2016 - 07:30 Uhr
Sprache: Deutsch
News-ID 506064
Anzahl Zeichen: 4774
contact information:
Town:
Rotterdam
Kategorie:
Business News
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