The 2017 revenue of EMKA up 18.1% YoY, the net income soars 93.2% (POSITIVE)

The Q4’17 revenue of EMKA increased by 13.7% YoY to BGN 26.6m, where its production revenue added 25.8% YoY to BGN 25.8m, while its other revenue dropped by 74.2% to BGN 0.7m. At the same the OPEX grew by 24.2% YoY to BGN 25.4m, driven mostly by 33.4% higher materials & energy expenses to BGN 22.0m and 18.0% higher compensation expenses to BGN 1.3m, eventually leading to a net income of BGN 0.9m vs a net loss of BGN 0.1m in Q4’16. The cumulative 2017 sales totaled BGN 98.4m, up by 18.1% YoY, while the OPEX added 21.7% YoY to BGN 93.8m. As a result the EBITDA increased 17%, however the margin remained flat at 7.2%. 2017 bottom line came to BGN 4.0m, up by 93.2% YoY.