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Don't have an account? Click here to register.Powerflute Oyj reports on stellar year
Tue, 08th Mar 2016 14:58
(ShareCast News) - Powerflute Oyj reported a stellar 2015 on Tuesday, with revenue and earnings growing significantly during the calendar year.The AIM-traded company saw group revenues rise 137.9% in its preliminary results, to €357.2m (£278m) from €150.1m. EBITDA, excluding non-recurring items was up 164.1% to €55.2m, from €20.9m.Powerflute's net debt reduced to €37.1m, from €61.5m, representing 0.7x EBITDA. Operating profit was €45.3m, up 204% from €14.9m, and underlying earnings per share increased to 9.6 euro cents from 3.8 cents.Including non-recurring items, EBITDA increased to €53.3m from €16.2m, operating profit improved to €43.3m from €10.1m, and the company's basic earnings per share were 9.1 euro cents, from 2.2 cents.Profit before tax was €37.3m, from €8.6m in 2014."2015 has been another very successful year for Powerflute," said Powerflute Oyj chairman Dermot Smurfit."The Corenso acquisition has been truly transformational, more than doubling the size and profitability of the group and significantly increasing its scale and global presence," he added.Smurfit said that, although the group benefited significantly from favourable market conditions and foreign exchange rates throughout the year, its executive management teams had also delivered improvement in underlying operating performace across the group.He said that, despite some recent softening in market conditions, both coreboard and cores, and packaging papers had satisfactory forward order books at price levels comparable to the prior year."In the absence of any marked change in the external environment, we currently expect that 2016 will be another successful year for the group," he concluded.Powerflute's board proposed a dividend increase of 100% to 3 euro cents per share, from 1.5 cents in 2014.Trading in the company's shares was choppy through the day, however, and at 1335 GMT it was down 0.15% at 83p.
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14 Nov 2016 11:10
Powerflute Oyj takeover goes unconditional
(ShareCast News) - Nordic Packaging and Container Finland Holdings declared its recommended cash offer for Powerflute Oyj wholly unconditional on Monday, having received acceptances to the offer representing more than 90% of the issued and to be issued shares in Powerflute. As a result, Powerflute a
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Powerflute agrees 90p a share takeover offer
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Paperboard firm Powerflute says to be bought for $354 mln
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Revenue down and earnings stable at Powerflute Oyj
(ShareCast News) - Powerflute Oyj announces its unaudited interim results for the six-month period to 30 June on Tuesday, with revenues excluding non-recurring items decreasing to €176.1m from €179.7m a year ago. The AIM-traded firm said EBITDA from operating activities was €26.5m on the same basis,
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UPDATE 1-John Menzies bows to investor demands for new chairman
(Adds comments by John Menzies, investor) LONDON, July 19 (Reuters) - UK airport services and logistics group John Menzies has appointed Irish paper and packaging industry tycoon Dermot Smurfit as its new chairman, answering a key demand from new activist investor Shareholder Value Manageme
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John Menzies bows to investor demands by appointing new chairman
LONDON, July 19 (Reuters) - Britain's John Menzies said on Tuesday it had appointed paper industry executive Dermot F Smurfit as independent chairman, answering a key demand from new activist investor Shareholder Value Management (SVM). SVM, which holds more than 7 percent of the distribut
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26 May 2016 13:04
Powerflute sees more challenging trading in H2
(ShareCast News) - Powerflute OYJ continues to perform well in the first four months of 2016, with trading results broadly in line on the year, but expects the second half to be more challenging. Shares in the paper and packaging group were down a little more than 12% this afternoon. "In Coreboard
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