Interim report for Q1 2007/08
Today, the Board of Directors of Glunz & Jensen has adopted the financial
statements for the period 1 June - 31 August 2007.
Summary
• Total revenue was DKK 95.6 million against DKK 120.7 million in Q1 2006/07.
• Revenue from CtP plate processors decreased to DKK 53.0 million from DKK 63.2
million in 2006/07, down 16%. The order intake in the quarter was at a
significantly higher level than revenue.
• The operating loss before special items amounted to DKK 0.8 million, down DKK
5.8 million relative to Q1 2006/07. Q1 2007/08 was not impacted by special
items, while Q1 2006/07 was affected positively by income of DKK 12.1 million.
• The net loss for the period amounted to DKK 1.1 million against a profit of
DKK 10.4 million in Q1 2006/07.
• Glunz & Jensen has decided to seek to dispose of the building complex in
Ringsted, Denmark. The public land assessment value of the buildings concerned
amounts to DKK 81 million, whereas the book value was DKK 39 million at the end
of Q1 2007/08. A high non-recurring income will be generated if the buildings
are sold at a price corresponding to the assessment value. At the same time,
interest-bearing debt will be reduced significantly.
• The outlook for the current financial year is maintained - revenue of just
over DKK 400 million and EBITA of DKK 0-5 million - excluding possible proceeds
from the sale of the building complex.
Ringsted, 27 September 2007
Peter Falkenham René Barington
Chairman Managing Director
