Comments on the results for the first nine months of 2007
• The company's net turnover increased by 22% in 2007 to DKK 133.1m from DKK
108.9m in 2006.
• The operating profit was DKK 38.8m against DKK 23.7m in 2006.
• In the first nine months of 2007 the company made a profit before tax of DKK
35.6m and DKK 25.9m after tax against a profit before tax of DKK 22.3m and DKK
23.2m after tax in the same period of 2006.
• The results for the quarter is deemed satisfactory by the company.
• During the 3rd quarter the company stabilized its production output at a
higher level than in the first half.
• The turnover in the 3rd quarter is marginally lower than expected, as part of
the irradiation equipment at external subsuppliers has been out of operation.
The company expects to catch up with the delays in the 4th quarter. Despite the
delays the company succeeded maintaining the earnings at a satisfactory level.
•The most important currency of the company is USD, and the company has
recognised an unrealised exchange rate loss of DKK 4.9m, concerning the deposit
made as collateral security for the raw material contract, running until the
end of 2012.
Expected future development
• Despite the above mentioned problems with external irradiations of the
company's products made by subsuppliers, the company maintains its expectations
for a turnover in 2007 of DKK 180-200m and a profit before tax of DKK 40-50m.
• In the 3rd quarter the company had the largest inflow ever of inquiries and
orders for delivery in a subsequent year, and the activity level for 2008 is
expected to be higher than for the current year. The potential order intake is
exceeding the volume of raw materials, that the company estimates to be
available for production in 2008.
• The growth in the float-zone market is primarily driven by new energy
technologies.
• Despite the continued limitations in supplies of raw materials Topsil expects
growth in turnover as well as profit in 2008, mainly driven by an improved
product mix and price increases.
The full report can be downloaded from the company's website:
http://www.topsil.com/0/86
