Halcor says turnover down, EBITDA up in 2016

Halcor SA on Friday reported a 7.7 pct decline in its consolidated turnover from continuing operations to 692.9 million euros in 2016, from 751.1 million in 2015.

The company, in an announcement, said positive impact from higher volume of sales (+4.4 pct) was offset by a decline in average copper prices to an average 4,399 euros per ton from 4,952 euros in 2015 down 11.1 pct.

EBITDA from continuing operations was 35.3 million euros in 2016, from 14.9 million in 2015, while EBIT (pre-tax and interest earnings) jumped to 19.6 million euros from a loss of 3.6 million in 2015. Consolidated pre-tax results showed a loss fo 1.0 million euros from a loss of 30.4 million in 2015.
After tax and minorities earnings totaled 1.9 million euros in 2016, or 0.0196 euro per share, from a loss of 30.8 million euros, or 0.3045 euro per share.

Parent turnover eased to 420.5 million euros in 2016 from 451.7 million in 2015. EBITDA rose to 22.6 million euros in 2016 from 14.3 million in the previous year, while EBIT showed a profit of 15.8 million euros from a loss of 7.6 million. Pre-tax results showed a loss of 22.7 million euros in 2016 from a loss of 9.4 million in 2015.