Avangardco Investments Public Limited Announces Consolidated Earnings and Operating Results for the First Quarter Ended March 31, 2015
Avangardco Investments Public Limited announced consolidated earnings and operating results for the first quarter ended March 31, 2015. For the period, the company reported revenue of $72,426,000 against $152,199,000 a year ago. Profit from operating activities was $160,000 against $54,720,000 a year ago. Loss before tax was $52,162,000 against profit before tax of $46,873,000 a year ago. Loss for the period was $52,179,000 against profit for the period of $46,799,000 a year ago. Loss for the period attributable to owners of the company was $51,713,000 or $7 per basic and diluted share against profit of $46,157,000 or $9 per basic and diluted share a year ago. Net cash used in operating activities was $3,356,000 against net cash generated from operating activities of $39,409,000 a year ago. EBITDA was $6,357,000 against $61,163,000 a year ago. At the end of reporting period the company's net debt amounted to $249.4 million.
For the quarter, total production was 1,051 million pieces against 1,889 million pieces a year ago.