Sanochemia Announces Earnings Results for the Full Year of Fiscal 2016
Sanochemia announced earnings results for the full year of fiscal 2016. For the year, the company reported EBIT slipped to EUR 370,000 (USD 0.41 million), down from EUR 878,000 a year earlier. The net loss amounted to EUR 285,000, as compared to a net profit of EUR 319,000 posted a year earlier. Revenue increased by 7% to EUR 17.6 million. EBITDA meanwhile contracted from EUR 2.2 million to EUR 1.6 million, mostly due to currency conversion losses.