Outlook

Guidance FY 2017

- Total reported growth is expected to be low double digit, with continued strong growth of own brands and the effect of 2016 acquisitions being partly offset by lower private label and distribution brand sales
- We expect EBITE % of revenue to be above 8% for the full year
- Net financing costs around €2.0-2.5 million
- Tax rate around 30%
- Capital expenditures €13-15 million
- Depreciation and amortisation €8-9 million
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