May 16, 2016
Reuters reports 2016 Q1 EBIT of €1.7 million on earnings of € 25.9 million
Turbon announced earning against sales for Q1 and they show that while sales were down margins (EBIT) were stronger at 6.5% and were inline with its March adjustment. Turbon forecasted in October 2015 following the acquisition of Austrian remanufacturer Emabatex AG that it would bring its group revenue to around €110 ($124,509,038) for the year and move the company closer to its medium-term target of €150 million ($165 million). Reuters’ reports that, “Group sales for the full year 2016 are now seen at €106 million ($119,981,436). Result from ordinary activities for the full year 2016, is expected at €7.0 million ($7,923,302).” Turbon reports sales of € 25.9 million against € 29 million in the same period last year and EBIT in the first quarter was €1.7 million against €1.9 in the same period last year.