May 24, 2017 / 6:48 AM / 3 months ago

BRIEF-Kardan Q1 net result for period attributable to equity holders turns to loss of 17.8 million euros

May 24 (Reuters) - KARDAN NV:

* Q1 TOTAL REVENUES EUR 1.6 MILLION VERSUS EUR 2.0 MILLION YEAR AGO

* Q1 LOSS FROM OPERATIONS BEFORE FINANCE EXPENSES EUR 2.9 MILLION VERSUS LOSS OF EUR 3.4 MILLION YEAR AGO

* Q1 NET LOSS FOR PERIOD ATTRIBUTABLE TO KARDAN EQUITY HOLDER EUR 17.8 MILLION VERSUS PROFIT EUR 1.9 MILLION YEAR AGO

* OUR FOCUS REMAINS ON GENERATING FUNDS TO MEET OUR DEBT REPAYMENT OBLIGATIONS IN 2018, WHILE STRENGTHENING PERFORMANCE OF OUR OPERATING SUBSIDIARIES - CEO

* WE BELIEVE THAT THE SALE OF TAHAL WILL ENABLE US TO MEET OUR 2018 DEBT REPAYMENT OBLIGATIONS AS WELL AS TO STRENGTHEN OUR EQUITY - CEO

* AS OF Q1 2017, WATER INFRASTRUCTURE SUBSIDIARY IS PRESENTED AS HELD-FOR-SALE, ITS RESULTS AS DISCONTINUED OPERATIONS

* AS OF Q1 2017, WATER INFRASTRUCTURE SUBSIDIARY IS NO LONGER PRESENTED AS SEGMENT IN CO'S CONSOLIDATED FINANCIAL STATEMENTS Source text: bit.ly/2qa2eTr Further company coverage: (Gdynia Newsroom)

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