"We have made a good start to the year with sales growth and increased profitability as a result of the adjustments we implemented last year. we have a sound platform on which to continue to execute DLH’s growth plans," says CEO Kent Arentoft.
- The positive developments were sustained in Q1 when DLH achieved significantly improved operating results compared to last year.
- Total turnover for Q1 was DKK 781 million against DKK 740 million for the same period last year, corresponding to 6% growth. Adjusted for the impact of foreign exchange rates (primarily SEK), the growth rate is 4%.
- In Q1 2011, EBITDA (earnings before interest, tax, depreciation and amortisation) was DKK 22 million against DKK 10 million for the same period last year.
- EBIT (earnings before interest and tax) for Q1 was DKK 16 million against DKK 3 million last year.
- Profits before tax (continuing operations) totalled DKK 4 million against a loss of DKK 10 million last year.
- With the current dollar exchange rate for the rest of the year we expect a revenue in the level of DKK 3.3 billion. Full-year expectation to EBIT is maintained at DKK 60 million in spite of it.
- DLH offered new shares in Q1 and completed a fully subscribed rights issue with net proceeds of DKK 251 million on 14 April.
- In February, DLH entered into a new bank agreement which, after the completion of the capital injection, runs for three years.
The Supervisory Board has today approved the interim report for the period 1 January – 31 March, 2011.
Any enquiries concerning this announcement should be addressed to CEO Kent Arentoft at tel: + 45 43 50 01 01.
