Wimm-Bill-Dann Foods cuts H1 earnings 17.4% to $64.9 mln
MOSCOW. Sept 4 (Interfax) - Wimm-Bill-Dann Foods (WDB) , one of Russia's largest diary and juice companies, saw its net profit to US GAAP fall 17.4% year-on-year in the first half of 2009 to $64.9 million, the company said in a press release.
This was better than analysts had predicted.
The company's sales revenue in the first half fell by 28.2% to $1.0715 billion from $1.492 billion in the same period of 2008. EBITDA shrank by 13.9% to $158.3 million from $183.8 million while the EBITDA margin increased from 12.3% to 14.8%.
During the second quarter of 2009, the company's net profit increased by 42.6% to $52.3 million from $36.7 million in the same period of 2008. Sales revenue in the second quarter dropped by 27% to $554.6 million from $706.1 million, EBITDA - down 8.5% from $93.1 million to $85.2 million and EBTIDA margin - up from 12.2% to 15.4%.