November 8, 2017 / 5:14 PM / a month ago

BRIEF-Baumot Group 2016 EBIT loss widens to 12.3 million euros

Nov 8 (Reuters) - BAUMOT GROUP AG:

* REVENUES INCREASED BY 42.7% TO EUR 38.3 MILLION IN THE 2016 FINANCIAL YEAR

* FY EBITDA IMPROVED BY 0.7 MILLION EUROS TO -3.6 MILLION EUROS

* SEES 2017 LOWER SALES LEVEL OF EUR 13-15 MILLION, NEGATIVE EBITDA OF BETWEEN EUR -4 AND -5 MILLION​

* FOR 2018 SEES SIGNIFICANT INCREASE IN SALES TO BETWEEN EUR 30 AND 35 MILLION​

* FOR 2018 SEES SIGNIFICANT IMPROVEMENT IN EARNINGS, EBITDA MARGIN IN MID-SINGLE-DIGIT PERCENTAGE RANGE

* FY EBIT OF -12.3 MILLION EUROS (PREVIOUS YEAR: -11.6 MILLION EUROS)​ Source text for Eikon: Further company coverage: (Gdynia Newsroom)

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