The Board of Directors today approved the 2012 Annual Report
2012
Another year of revenue improvement and with an even bigger earnings improvement.
In December 2012, we signed an agreement to divest Martin in a transaction worth a total of DKK 917 million. The deal was finalised at the end of February 2013.
During the course of the year, BioMar officially opened a new factory in Costa Rica, Fibertex Personal Care resolved to add another production line at the factory in Malaysia and Fibertex Nonwovens acquired the rest of the shares in the former Tharreau Industries in France and delisted the company.
Net interest-bearing debt reduced by DKK 722 million and gearing (NIBD/EBITDA) reduced to 1.7x.
2013
Revenue is expected to increase, mainly because of higher raw materials prices; earnings are coming under pressure due to tough competition but are expected to be maintained at an attractive level.
For 2013 overall, Schouw & Co. expects to generate consolidated revenue in the vicinity of DKK 13.5 billion (2012: DKK 12.5bn) and EBIT in the DKK 680-770 million range (2012: DKK 772 million).
BioMar
Volumes sold up by 10%, revenue improved by 13% and EBIT was up 21%. The improvement was mainly driven by Chile and Continental Europe.
Fibertex Personal Care
Revenue and EBIT up due to increased capacity in Malaysia.
Fibertex Nonwovens
Recent years’ losses have been reversed and turned into an EBIT profit, in part due to the successful integration of the French operations serving the automotive industry.
Grene
Revenue was up by 4% and EBIT by 8% as a result of improvements in Denmark and Russia.
Hydra-Grene
Revenue up by 13% after a year of strong activity in the wind turbine industry.
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 6, AT 13.00 CET
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 32 72 80 18. Questions relating to the above should be directed to Jens Bjerg Sørensen, President, tel. +45 8611 2222.
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