Interim report Q3 2014

03-11-2014
Monday, Schouw & Co. published its interim report for the third quarter of 2014. Operating profit (EBIT) increased by 10% to DKK 270 million despite decline in revenue of 2% to DKK 3.6 billion. The profit forecast for the full year is raised.

Highlights

  • Overall, Schouw & Co. had a good third quarter of 2014.
  • Business activity was up, but revenue was down 2% to DKK 3,618 million due to lower prices of raw materials.
  • EBIT improved by 10% to DKK 270 million.
  • All companies but one reported revenue improvements. BioMar saw its revenue drop due to lower raw materials prices.
  • All companies reported EBIT improvements.
  • The associate company Kramp reported revenue and EBIT improvements.
  • BioMar and Fibertex Nonwovens both raising their full-year EBIT guidance.
  • Schouw & Co. maintains its forecast of full-year 2014 revenue of DKK 11.5-12.0 billion and raises the EBIT forecast to the range of DKK 625-675 million from the previous forecast of DKK 570-665 million.

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

“Despite the relatively moderate activity increase, Schouw & Co. lifted its EBIT by almost 10% in the third quarter relative to last year. I'm very pleased that the advances we've made since the beginning of the year continued in the third quarter. 

Each of our businesses are working to enhance growth and improve their margins, and our performance shows that these efforts are having both short- and medium-term effects. For example, they've had the direct effect that we've now upgraded our earnings guidance twice this year.

Acquisitive growth is high on our agenda, as witnessed by the two small acquisitions we've announced after the end of the third quarter. Fibertex Nonwovens has gained a strategically important point of en-try to the North American market, and Fibertex Personal Care has invested in printing technology that enables the company to offer its customers value-adding services that complement its core product.”

Download the report.

 

Schouw & Co. will be reviewing the financial statements in a conference call (in Danish) for analysts, members of the press and other interested parties on telephone +45 3271 4768, access code 98512630#, on

MONDAY, NOVEMBER 3, 2014 AT 15.30 CET

Please direct any questions to this announcement to President Jens Bjerg Sørensen on tel. +45 8611 2222. 

 

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