The group has reported an EBITDA that has increased by 13% to €642m, but this is short of expectations as earnings in the second quarter were weak. As a result, net income was negative for the second quarter at €-70m due to higher income taxes paid. This has pushed the first half net profit to far below expectations to €271m (€0.30/share). Adjusted EPS is below forecasts at €0.33/share. The group maintains its outlook that demand will grow 0.5% on average for the Nord
20 Jul 2017
Weak second quarter eclipses strong start to the year; Russia shines again
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Weak second quarter eclipses strong start to the year; Russia shines again
The group has reported an EBITDA that has increased by 13% to €642m, but this is short of expectations as earnings in the second quarter were weak. As a result, net income was negative for the second quarter at €-70m due to higher income taxes paid. This has pushed the first half net profit to far below expectations to €271m (€0.30/share). Adjusted EPS is below forecasts at €0.33/share. The group maintains its outlook that demand will grow 0.5% on average for the Nord