Royal Wessanen nv (KJWNY.PK) reported a fiscal 2012 pretax loss of 49.6 million euros, compared to a loss of 22.5 million euros last year. Net loss to equity holders was 53.2 mllion euros or 0.70 euros per share, compared to a loss of 17.1 million euros or 0.23 euros per share prior year. Revenue improved to 710.8 million euros from 706.0 million euros last year. Normalised EBIT decreased to 18.8 million euros from 23.7 million euros prior year.
The company noted that its operating result in fiscal 2012 was impacted by sizeable impairment losses of 46.8 million euros and other exceptional items of 17.8 million euros, the latter mainly relating to the reorganisation initiated late November.
Fourth-quarter revenue grew by 4.2% to 163.8 million euros. The net result was a loss of 61.5 million euros compared to a loss of 35.1 million euros last year. The company said the decrease in net result is mainly the result of higher impairment and other exceptional operating losses incurred and the absence of operating loss absorption by the non-controlling interest in Favory, just partly offset by improved EBITE performance.
Wessanen said it will propose to the Annual General Meeting a dividend of 0.05 euros per share representing 40% of the consolidated net result, excluding major non-recurring effects.
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