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No good news from the Karlie Group: the company will end fiscal 2015 in the red once more with sales of around € 85 mio. The Karlie Group expects to be able to halt the slide in sales in its current 2016 fiscal year, but a return to profit is not likely until 2017.
Sales in the previous year had been € 99.4 mio. The management is also expecting a negative Ebitda of between minus 1.5 and minus 2 million euros. Karlie believes that the poor business situation will also obstruct faster implementation of its restructuring concept.
A credit agreement reached with the banks on certain terms offers some hope. Under this, the bank credits that expired at the end of 2015 are being extended and boosted by a restructuring loan of € 0.5 mio. It is reported that the Belgian banks have increased the credit by € 1 mio. The investment company Perusa will also make a cash capital injection available to the Karlie Group in the form of € 2.8 mio in liquid assets.
Sales in the previous year had been € 99.4 mio. The management is also expecting a negative Ebitda of between minus 1.5 and minus 2 million euros. Karlie believes that the poor business situation will also obstruct faster implementation of its restructuring concept.
A credit agreement reached with the banks on certain terms offers some hope. Under this, the bank credits that expired at the end of 2015 are being extended and boosted by a restructuring loan of € 0.5 mio. It is reported that the Belgian banks have increased the credit by € 1 mio. The investment company Perusa will also make a cash capital injection available to the Karlie Group in the form of € 2.8 mio in liquid assets.
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