BEWI ASA (BEWI-ME.OL) Thursday said that its net loss narrowed in the first quarter, helped by higher volumes and improved performances across all divisions. The company's net sales also increased from a year ago.
The Norwegian packaging and insulation solutions provider posted a net loss of 142.1 million Norwegian Kroner or 1.04 Kroner per share in the first quarter, compared to a net loss of 252.6 million Kroner or 3.15 Kroner per share in the same period last year.
According to BEWI Invest ASA, pre-tax loss was 114.9 million Kroner in the first quarter, compared to pre-tax loss of 293.0 million Kroner in the previous-year quarter.
During the three months, net sales came in at 2.46 billion Kroner, higher than 2.27 billion Kroner recorded in the year-ago quarter. EBITDA came in at 213.7 million Kroner, up from last year's 156.8 million Kroner.
Looking ahead, the company said that it expects to reach a 15 percent EBITDA margin.
On the Oslo Exchange, BEWI.OL ended Wednesday's trading at 19.74 Norwegian Kroner, up 2.81 percent.
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