Laboratorio Reig Jofre, S.A. reported earnings results for the third quarter and nine months ended September 30, 2016. For the quarter, the company reported turnover of EUR 35.85 million compared to EUR 34.67 million a year ago. EBITDA was EUR 4.07 million compared to EUR 2.93 million a year ago. Operating profit was EUR 2.43 million compared to EUR 1.73 million a year ago. Profit before taxes was EUR 2.07 million compared to EUR 1.66 million a year ago. Net result was EUR 1.69 million compared to EUR 1.52 million a year ago.

For the period, the company reported turnover of EUR 119,289,459 compared to EUR 116,155,749 a year ago. EBITDA was EUR 11,501,601 compared to EUR 13,567,055 a year ago. Operating income was EUR 7,140,986 compared to EUR 10,063,425 a year ago. Profit before taxes was EUR 6,104,075 compared to EUR 9,880,601 a year ago. Net result was EUR 5,005,342 compared to EUR 8,698,181 a year ago. At the end of September, net financial debt stood at EUR 22.48 million, still at around one time 2015 EBITDA. The evolution of the financial result of the company in the first nine months, mainly affected by exchange rate differences due to the devaluation of the British pound against the Swedish krona in Reig Jofre's subsidiary in Sweden, had a negative impact of EUR 0.33 million compared to profits of EUR 0.46 million in the same period last year, a negative difference of EUR 0.85 million.

The company confirmed the sales guidance for 2016, with expected growth not below 2% and it improves the EBITDA guidance in EUR 1 million, estimated now not below EUR 16 million. Regarding taxation, the company kept the estimated tax rate at 18%. However, Reig Jofre has tax credits amounting to EUR 14.77 million, so effective tax rate at year-end is expected to stand at around 14-15%.