Cognor S.A. announced consolidated earnings results for the first quarter ended March 31, 2017. For the quarter, the company reported revenue of PLN 429,529,000 against PLN 355,672,000 a year ago. EBIT was PLN 31,620,000 against PLN 5,007,000 a year ago. Profit before tax was PLN 37,164,000 against loss of PLN 8,696,000 a year ago. Profit was PLN 30,348,000 against loss of PLN 6,549,000 a year ago. EBITDA was PLN 41,232,000 against PLN 13,799,000 a year ago. Adjusted EBITDA was PLN 42,690,000 against PLN 12,969,000 a year ago. Adjusted net profit was PLN 13,410,000 against loss of PLN 5,868,000 a year ago. Operating activities was PLN 30,437,000 against PLN 29,016,000 a year ago. Net debt as at end of quarter of PLN 423,428,000 against PLN 413,318,000 a year ago. The Group's revenues increased by PLN 73.9 million and 20.8% due to the increase in shipments of scrap metal by 3,700 tonnes and 15.3% and billets by 25,000 tonnes and 64.5%. This was partially offset by a decrease in sales of finished products by 14,600 tonnes and 11.5%. The combined 7.4% increase in shipments of ferrous scrap metal, billets and finished products was coupled by an increase in their prices to the tune of PLN 283 per tonne and 40.8% for scrap metal, PLN 453 per tonne and 30.8% for billets and PLN 313 per tonne and 16.3% for finished products.