Interim report January-June 2017: Improving demand supported turnover growth
Financial highlights of January to June 2017 (year-on-year in brackets)
- Turnover increased by 5 % to EUR 488 million (464)
- EBITDA declined by 16 % to EUR 53 million (63)
- EBIT declined by 25 % to EUR 30 million (40)
- Net profit from continuing operations unchanged at EUR 24 million (24)
- Free cash flow reduced by 107 % to EUR -11 million (161)
- Net debt unchanged at EUR 221 million (221)
Tomas von Rettig, President and CEO of Rettig Group:
"During the first half of 2017 the business developed according to our expectations. Market conditions were supportive in our key markets and demand for products of Rettig ICC and Nordkalk was improving. Higher raw material costs of Rettig ICC put pressure on EBITDA performance. Alandia, eQ and Anchor performed well during the period supporting satisfactory net profit from continuing operations."
Unchanged outlook for 2017
The outlook for 2017 remains unchanged. We see some signs of modest economic growth and slightly higher demand in our main markets. Higher political uncertainty globally could impact the stability of the financial markets and demand for our products and services.
Financial calendar 2017
Rettig Group will publish the Interim Managemant Statement for January-September 2017 on 19 October 2017.
For more detailed information about Rettig Group in the first half of 2017, including second quarter performance, go to our 2017 interim report or presentation published today on www.rettig.fi.
Josefina Tallqvist, Rettig Group, Director, Corporate Communication and Investor Relations
Tel: +358 40 7455276, email: email@example.com
Rettig Group is a Finnish family held investment company that creates value for generations through active and responsible ownership. Our investments include Rettig ICC (indoor climate comfort), Nordkalk (limestone), Alandia (insurance), eQ (asset management and corporate finance) and Anchor (financial investments). Through these businesses Rettig Group is active in about 28 countries globally and employs over 4,000 people.