Interim report - first quarter of 2017

Thursday, Schouw & Co. released its interim report for the first quarter of 2017. Consolidated revenue was up by 29% and EBIT improved by 14%. Full-year EBIT guidance raised to the DKK 1,065-1,135 million range due to the acquisition of Borg Automotive.

Highlights

  • The Schouw & Co. Group off to a good start to 2017.
  • Consolidated revenue was up by 29% to DKK 3,584 million.
  • EBIT improved by 14% to DKK 178 million.
  • Organic growth of 20% in revenue and of 3% in EBIT.
  • All portfolio companies maintain their full-year revenue and EBIT forecasts.
  • Newly-acquired Borg Automotive included in guidance from 1 April.
  • Full-year 2017 guidance now for revenue of about DKK 16.4 billion and EBIT in the DKK 1,065-1,135 million range.

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

Generally, we’ve had a good start to 2017 and, as expected, we achieved a very satisfactory first quarter with substantial growth in both revenue and EBIT.

All of our portfolio companies are facing extremely competitive markets. Winning new orders and contracts and ensuring the necessary compensation for rising prices of raw materials is extremely demanding. However, all of our businesses are well positioned in their markets, and they each have a number of current initiatives aimed at maintaining an attractive long-term earnings level.

Towards the end of the quarter, we successfully concluded an agreement to acquire Borg Automotive, thereby adding a new leg involving circular economy and sustainability to our portfolio. We believe this acquisition will have a value-adding effect both short term and long term. Due to the effect of recognising Borg Automotive as a part of Schouw & Co. going forward, we are raising our full-year guidance.

Conference call (in English) in relation to the interim report

  • Thursday, 4 May 2017 at 15:30 CEST
  • Phone +45 3272 3010, access pin 2989385#

 

Aktieselskabet Schouw & Co.

Jørn Ankær Thomsen, Chairman
Jens Bjerg Sørensen, President, tel. +45 8611 2222

 

For further information about the interim report, please see here.

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