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Bollore posts higher net income, revenues

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Bollore posts higher net income, revenues

Bollore said its net income and revenue increased for the full fiscal year 2017.

The French transportation and logistics company posted net income attributable to owners of the parent of €699 million, or 24 euro cents per share, up from €440 million, or 15 cents per share in the prior fiscal year.

The company beat the S&P Capital IQ consensus EPS estimate of 18 cents per share.

Revenue for 2017 rose by 82% to €18.33 billion, from €10.08 billion in the prior fiscal year. Bollore attributed is revenue growth to increased freight volumes and rates along with strength in its oil logistics business on rising oil product prices.

EBITDA rose to €2.07 billion from €1.02 billion in the prior year.

Operating income climbed by 79% to €1.12 billion from €627 million a year ago. Financial income declined to €119 million from €164 million reported in the comparable period.

The company said it will propose a dividend of 6 cents per share at its next general meeting.