Interim report – Third quarter of 2018

Monday, Schouw & Co. released its interim report for the third quarter of 2018. Consolidated revenue was up by 4% and full-year profit guidance interval narrowed.

Highlights

• Schouw & Co.’s consolidated revenue up by 4% in Q3 2018 to DKK 5,034 million.
• EBITDA of DKK 445 million against DKK 483 million last year.
• Full-year EBITDA guidance narrowed to the interval DKK1,580-1,650 million (exclusive CCS acquisition costs), while expected share of profit in associates and joint ventures raised.
• EMS company CCS acquired and biogas business Xergi divested after the end of the quarter.

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

“For the Schouw & Co. Group, the next few quarters will be a period dedicated to optimising existing operations. This will involve utilising the production apparatus and enhancing efficiency, it will involve aligning product and service offerings, and in particular it will involve optimising capital utilisation, especially our working capital.

Recently, we have completed a number of events that are all part of our efforts to streamline Schouw & Co. GPV has signed an agreement to acquire Swiss-based company CCS in a deal that propels GPV to the top of the European EMS industry. Next, we sold our interest in Xergi to that company’s largest customer. In addition, we have agreed to sell the last of our non-operational properties in Frederikshavn, we’ve sold our interests in venture investment activities and we’ve focused our investment in Aarhus-based science parks.”

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

• Monday, 12 November 2018 at 15:30 CEST
• Phone number for participants: DK: +4535445583 // UK: +442031940544 // SE: +46856642661 // US: +18552692604

Aktieselskabet Schouw & Co.

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

 

Please see the whole report here.