Hofseth Biocare ASA: First Quarter 2017 Financial Report
May 11 2017 - 11:15AM
During the first quarter,
Hofseth BioCare continued to implement the company's new strategic
plan after expanding the Midsund plant. The Company has also
finalized the sale agreements on the two production facility
buildings.
Hofseth BioCare had
operating revenues of NOK 58.6 million (5.4) in the first quarter
of 2017. NOK 52.2 million of the revenues originates from the sale
of buildings executed in March 2017.
Total operating expenses
amounted to NOK 28.2 million (30.9) in the period, leaving an
operational profit (EBITDA) for the first quarter 2017 of NOK 36.7
million (- 21.2).
Cash and cash equivalents
increased by NOK 48.2 million during the quarter, leaving total
holding of cash and cash equivalents at NOK 64.4 million by the end
of the period.
Total equity amounted to NOK
81.3 million (4.4) giving an equity ratio of 44.4 % (2.7 %) for the
group.
Please find HBC's first
quarter 2017 report attached.
For further information,
please contact:
Tor Erik Andersen, CEO of
Hofseth BioCare ASA
Mob: +47 911 79 854
E-mail: tea@hofsethbiocare.no
Jon Olav Ødegård, CFO of
Hofseth BioCare ASA
Phone: +47 936 32 966
E-mail: joo@hofsethbiocare.no
About Hofseth BioCare
ASA:
HBC is a Norwegian biotech
company that offers high-value ingredients and finished products
for humans and pets. The company is founded on the core values of
sustainability, traceability and optimal utilization of natural
resources. Through an innovative hydrolysis technology, HBC can
preserve the quality of salmon oil, proteins and calcium, prepared
of fresh salmon off-cuts. HBC's objective is to contribute to the
efficient use of marine resources and deliver quality products for
ingredients and finished consumer products in the nutrition
market.
Hofseth BioCare's
headquarters are in Ålesund, Norway with branches in Oslo, Chicago,
Mumbai and Tokyo. HBC is listed on Oslo Stock Exchange Axess list
with ticker "HBC". More information about Hofseth BioCare at
www.hofsethbiocare.com and
www.facebook.com/hofsethbiocare
This information is subject
to the disclosure requirements pursuant to section 5-12 of the
Norwegian Securities Trading Act.
HBC - Q1 2017 Financial
Report
This
announcement is distributed by Nasdaq Corporate Solutions on behalf
of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the
information contained therein.
Source: Hofseth Biocare ASA via Globenewswire