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30-03-2017

Press Release FY 2016 GROUP Financial Result


Halcor and its subsidiaries have announced their consolidated financial results for the year of 2016 according to the International Financial Reporting Standards (IFRS).

Consolidated revenue from continued operations in 2016 amounted to Euro 692.9 mil. versus Euro 751.1 mil. in 2015, marking a decrease by 7.7%. The positive effect from the increase in volume of sales by 4.4% was offset by the decline in the average copper price, which stood lower at Euro 4,399 per ton versus Euro 4,952 per ton during 2015 decreased by 11.1% affected by the downtrend in the first half of the year. Consolidated gross profit from continued operations increased significantly reaching Euro 39.9 mil. versus Euro 16.2 mil. in 2015 and consolidated results before interest, tax, depreciation and amortization from continued operations (EBITDA) amounted to in 2016 a profit of Euro 35.3 mil. compared to a profit of Euro 14.9 mil. in 2015.
Consolidated results before tax and interest from continued operations (EBIT) accumulated to profit of Euro 19.6 mil. versus losses of Euro 3.6 mil. for 2015. Consolidated earnings before taxes from continued operations (EBT) amounted in 2016 to a loss of Euro 1.0 mil. compared to losses of Euro 30.4 mil. in 2015. Finally, the results after tax and minority interests from continued operations amounted to a profit of Euro 1.9 mil. or Euro 0.0196 per share, compared to losses of Euro 30.8 mil. or Euro 0.3045 per share in 2015.

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