Stallergenes Greer plc reported unaudited consolidated earnings results for the first half ended June 30, 2018. For the first half, the company reported net sales of EUR 142,327,000 against EUR 129,615,000 a year ago. Total revenues were EUR 142,384,000 against EUR 129,625,000 a year ago. Operating result were EUR 17,430,000 against negative EUR 3,473,000 a year ago. Net income before tax and associates was EUR 17,032,000 against net loss before tax of EUR 4,300,000 a year ago. Net income for the period was EUR 17,032,000 against net loss of EUR 8,890,000 a year ago. Net cash flow from operating activities was EUR 26,572,000 against cash outflow of EUR 11,950,000 a year ago. Purchase of non-current assets was EUR 8,319,000 against EUR 4,653,000 a year ago. EBITDA was EUR 27.6 million compared to EUR 8.3 million a year ago. Free cash flow after net working capital and investing activities was positive EUR 30 million from improved operating profitability, but also from improvement in working capital management and investment phasing during the first half of 2018. This compares to a cash use of EUR 17 million during the first half of 2017. Sales are up driven by double-digit local currency performance from both of key regions, EU/International and the United States.

The company provided earnings guidance for the full year of fiscal 2018. For the year, the company expects net sales to be in the range of EUR 270 million to EUR 280 million and EBITDA to be in the range of EUR 40 million to EUR 50 million.