Interim Report - First Half of 2007


Highlights

Schouw & Co. achieved a 74% increase in profit before tax to DKK 660 million.

Consolidated revenue was up by 15% to DKK 3,685 million.

Operating profit was up 7% to DKK 141 million. When adjusted for the divested
packaging businesses, the improvement was 27%. 

Positive effect of DKK 575 million from the holding of Vestas shares.

Strong revenue improvements reported by all group businesses.

Best-ever results in Grene following great first half-year performance.

Best-ever results in Martin. Profit forecast raised for the second consecutive
time. 

Fibertex lowers profit forecast.

Schouw & Co. maintains the forecast for the full-year 2007 profit before tax of
approximately DKK 350 million excluding the effects from the holding of Vestas
shares and the contribution to profit from Sjøtroll Havbruk. The projected
profit before tax equals a 17% improvement over 2006 on a same-activity basis. 

Schouw & Co. will be reviewing the financial statements for the six months to
June 30, 2007 online and will be hosting a teleconference (in Danish) for
analysts, the media and other interested parties on Friday, August 17, 2007,
08.30 am. 

The presentation will be webcast. A link to the presentation is available at
the Schouw & Co. web site, www.schouw.dk, where the presentation will also be
available for subsequent viewing. Those wishing to attend the teleconference
are invited to call tel. +45 3271 4767. 

Questions relating to the above should be directed to Jens Bjerg Sørensen,
President, on tel. +45 8611 2222.

Attachments

2007-08-15 fbm layout uk.pdf