Thursday, Schouw & Co. released its interim report for the third quarter of 2016. Consolidated revenue was up by 20% and EBIT improved by 30%. Full-year EBIT guidance raised to the range of DKK 965-1,030 million.
Highlights
Statement by Jens Bjerg Sørensen, President of Schouw & Co.
“Schouw & Co. continued the steady development in the third quarter, extending the streak from the past many quarters. Our operating profit for the third quarter of DKK 351 million is the best quarterly EBIT in Group history. Our businesses have good momentum and it is a positive surprise that we’ve been able to raise our EBIT guidance by more than 10%, thereby raising our profit before tax guidance to more than DKK 1.5 billion.
We’re still seeing the positive effects of our recent acquisitions of the hydraulics business Specma and the EMS company GPV. Both are contributing well to our revenue and earnings. We’re currently pursuing a substantial investment programme across the Group to ensure that we have sufficient capacity for future growth, and we are allocating substantial resources to prepare for the future by way of innovation and product development.
Schouw & Co. has a strong platform for future profitable growth based on a positive performance by all of our portfolio businesses.”
Read the whole report here.
Conference call (in Danish) in relation to the interim report
Aktieselskabet Schouw & Co.
Jørn Ankær Thomsen, Chairman
Jens Bjerg Sørensen, President, tel. +45 8611 2222
