Interim report - first quarter of 2015

07-05-2015

Thursday Schouw & Co. released its interim report for the first quarter of 2015. Revenue increased by 16% and EBIT improved by 54%. Outlook for full-year revenue and EBIT raised.

Highlights

The first quarter of 2015 marked the best start to the year ever for the Schouw & Co. Group.
All portfolio companies reported revenue and earnings improvements, but with performances being strongly driven by favourable currency effects and changes in prices of raw materials.
Consolidated revenue was up by 16% to DKK 2,784 million.
EBIT improved by 54% to DKK 152 million.
Higher prices of raw materials and currency appreciation have made BioMar raise its full-year revenue guidance.
Both BioMar and Fibertex Nonwovens raise their full-year EBIT guidance following a good start to the year.
As a result, Schouw & Co. raises its guidance for the full-year 2015 consolidated revenue to about DKK 12.5 billion against the previous forecast of approximately DKK 12 billion. The company raises its full-year EBIT forecast to the range of DKK 630-720 million from the previous forecast of DKK 610-700 million.

Statement by Jens Bjerg Sørensen, President of Schouw & Co.:

”We've had an exceptionally good start to the year, supported by a combination of external factors and ongoing internal improvements. We've seen a substantial non-recurring impact in Fibertex Personal Care from lower prices of raw materials, but the extra earnings could well be eliminated later in the year. In addition, higher foreign exchange rates have boosted earnings in our large units in Chile and Malaysia.

The good start to the year has made us raise our full-year 2015 guidance a notch. We expect our principal global markets to remain very competitive. Our focus continues to be on streamlining the operations of our portfolio companies and to constantly exploring opportunities for growth and expansion.”