Weifa ASA Reports Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended September 30, 2016; Provides Earnings Guidance for 2016
For nine months, revenue was NOK 285,263,000 against NOK 234,895,000 a year ago. Operating profit was NOK 43,078,000 against NOK 33,817,000 a year ago. Profit before tax from continuing operations was NOK 13,054,000 against NOK 17,154,000 a year ago. Profit for the period from continuing operations was NOK 9,793,000 against NOK 12,522,000 a year ago. Earnings per share - diluted were NOK 0.26. Net cash flow from operating activities was NOK 44 454,000 against cash used in operations of NOK 8,215,000 a year ago. Payment relating to purchase of licences was NOK 9,250,000 against NOK 13,933,000 a year ago. EBITDA was NOK 52,635,000 against NOK 43,516,000 a year ago. EBITDA adjusted was NOK 60,449,000 against NOK 48,463,000 a year ago.
The company expects organic revenue growth and an improved adjusted EBITDA margin for 2016 compared with the year before.