J&P-Avax reports lower turnover in 2016

J&P-Avax said its consolidated turnover grew to 541.2 million euros in 2016, from 456.2 million in 2015, while losses grew to 43.2 million euros from a loss of 37.6 million in 2015.

The group said 2016 results were burdened by extra and non-operating charges worth 59.3 million euros for the write off of bad debt and other provision worth 30.5 million euros and a write down in the group’s value of equity participations worth 28.8 million euros.

The group said net results after tax and continuing work was a positive 16.1 million euros in 2016, from a loss of 24.1 million in 2015, while EBITDA jumped to 46.4 million euros from 26.4 million in 2015.

J&P-Avax said its pending works portfolio was worth around 2.0 billion euros at the end o