Schouw & Co. 2013: An exceptionally good profit after tax

05-03-2014

Schouw & Co. released Wednesday the Annual Report for 2013. Revenue was DKK 11.6 billion and operating profit (EBIT) was DKK 685 million, which was exactly at the top end of the most recent guidance range.

This was a year of significant events for the Schouw & Co. Group. Combined with operating results remaining at an attractive level, our profit after tax was exceptional at DKK 1,368 million in 2013, compared to DKK 498 million in 2012.

CEO in Schouw & Co., Jens Bjerg Sørensen says: “2013 saw Schouw & Co. becoming a more focused company.” He continues: “The divestment of Martin was closed and we have merged Grene with Dutch company Kramp giving Schouw & Co. a 20% stake in what is clearly Europe’s largest distributor of spare parts and accessories to the agricultural sector. In addition, we have sold the shares in Norwegian fish farmer Lerøy, ended a 20-year involvement in the wind turbine industry by the divestment of our shares in Vestas, and sold a property.”

The significant events of 2013 and the positive cash flows from operating activities have had the effect that Schouw & Co.’s net interest-bearing debt stands at close to zero at the beginning of 2014. Our ambition is first of all to apply the Group’s resources for profitable growth as well as both organic and acquisitive expansion.

“We will maintain our strategy to consolidate the Schouw & Co. conglomerate in 2014, investing in all of our portfolio companies so they can each grow profitably and build on their leading positions. Also, we will remain alert to any investment opportunities that could help create long-term value for Schouw & Co.,” says Jens Bjerg Sørensen.

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Schouw & Co. will be reviewing the annual report online and will be hosting a teleconference (in Danish) for analysts, the media and other interested parties on WEDNESDAY, MARCH 5, AT 13.00 CET.

The presentation will be webcast – please use www.schouw.dk/meeting. The presentation will subsequent be available at the Schouw & Co. web site, www.schouw.dk. Those wishing to attend the teleconference are invited to call tel. +45 32 71 47 68 using pin 62367270#.

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Like last year, Schouw & Co. has published a shareholder magazine to accompany the full-length annual report. The annual report contains a full presentation of financial statements and a full management’s report, whereas the articles in the shareholder magazine provide supplementary information and describe matters of importance for our businesses in the years ahead.

Link to the shareholder magazine

Link to the annual report

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