Publikacja: 2017-05-09 17:19
Builder Elektrobudowa suffers PLN 1.4 mln Q1 group net loss, below PLN 6.1 mln expected profit - market filing
Listed builder Elektrobudowa warned it will slip to a PLN 1.4 mln Q1 group net loss following delays on prrojects that shifted revenues from Q1 into April, but need not alter its FY2017 guidance, management said in a market filing.
PRELIMINARY ESTATES VERSUS CONSENSUS
| Q1 2017 | Consensus | vs. Cons | |
|---|---|---|---|
| PLN mln | PLN mln | % | |
| Revenues | 142,4 | 192,7 | -26,1 |
| Net profits | 1,4 | 6,1 | -77,0 |
Revenues will be 26% or PLN 50 mln below the consensus expectation.
Management blamed "lower than expected revenue levels in light of a shift in realization of key contracts and supplies" from Q1 into April. "In the month of april there has been a significant increase in progress on works."
Guidance remains intact on the shift in revenues. Management claims no "no signals suggesting a need to correct 2017 annual forecasts.
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