I.M. Skaugen Group posts negative pre-tax result for 4Q12 of USD4.4 mln

The I.M. Skaugen Group (IMSK) achieved a negative pre-tax result for 4Q12 of USD4.4 mill, compared to a loss of USD1.6 mill in 4Q11. EBITDA was USD2.5 mill for 4Q12 compared to USD2.3 mill in 4Q11, the company reports.

The preliminary pre-tax result for 2012 was a loss of USD15.8 mill, compared to a loss of USD8.1 mill in 2011. EBITDA for 2012 was USD21.2 mill compared to USD23 mill in 2011.

Due to the underlying negative results in 2012, the equity ratio has shown a negative trend during the year and ended at 25.7 % and a reduction from 30.1%.