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International Internet Magazine. Baltic States news & analytics Tuesday, 14.08.2018, 11:33

Sales of HKScan’s Baltic rise to EUR 158.7 mln in 2017

BC, Tallinn, 08.02.2018.Print version
Sales of the Baltic unit of the listed Nordic meat group HKScan increased 0.6% on year to 158.7 million euros in 2017. The fourth quarter revenue grew 0.5% to 39.7 million euros, the company said, cites LETA/BNS.

Earnings before interest and taxes (EBIT) fell 29% to 4.4 million euros in 2017, while the fourth quarter was ended with a loss of 500,000 euros compared with a profit of 1 million euros in the same period of 2016.

 

Investments in the Baltics fell by 800,000 euros to 10 million euros. In the fourth quarter investments declined from 3.7 million to 2.4 milion euros.

 

The HKScan group earned a revenue of 1.8 billion euros last year, while its loss totaled 18 million euros. According to the company, the reason lies in bigger expenses in regard to the Rauma plant than expected as well as the supply capacity of poultry meat in Finland.






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