Vilnius, Lithuania, 2017-02-28 06:50 CET (GLOBE NEWSWIRE) -- During the twelve months of 2016 revenue of K2 LT, compared to the same period in 2015, increased by 4%, reaching €1,288 thousand.
EBITDA amounted to €694 thousand, 3% less than in 2015, with EBITDA margin slightly dropping to 54% for the period.
The unaudited profit before income tax decreased by 8% to €543 thousand.
2016 net profit remained unchanged at €502 thousand, as the Company had received a tax break in a form of reduced applied corporate tax rate relating to the 2nd line of cremation, which was installed in January 2016. Net profit margin for the period was 39%, compared to 41% during the same period in 2015.
During the twelve months the number of cremations performed by K2 LT grew from 3,502 to 3,812, an increase of 9%.
It is expected that the demand for cremation services in 2017 will continue steadily increasing. During the year ahead, the Company expects to perform 4,300 cremations, generating revenues and net profit of €1.37 million and €527 thousand respectively.
Vytenis Labanauskas
Director
vytenis@krematoriumai.lt
