SmartGuy Group A/S periodic announcement – Q3 developments of the Financial Year 2012/13
High growth forecast maintained but cold weather effecting earnings
In accordance with regulations for listed companies SmartGuy Group A/S hereby publishes a quarterly announcement for the period January to March 2013.
The quarter was characterized by unusually cold weather in the Nordic countries and increased competition leading to increased marketing activities in order to compensate for lower than expected sales. For the financial year 2012/13 the Group continues to expect a total revenue at a level of DKK 450 million, corresponding to an expected annual growth rate at a level of 30% while expectations for full-year EBITDA earnings before special items have been reduced to a level of DKK 5 million.
During January 2013 and in May 2013 SmartGuy Group A/S announced the acquisition of two internet companies. The integration of both acquisitions is progressing according to plan.
The SmartGuy Group has also been focused on ensuring a competitive platform for the coming years of growth and profitability, through the planned relocation of warehouse operations to Poland during the second half of the 2013 calendar year. The relocation project is on schedule and is expected to result in annual savings of DKK 25 million, effective from the beginning of the calendar year 2014. As a consequence of the decision to relocate warehousing abroad, it was decided to make an impairment write-down of property assets in Denmark with DKK 20 million.
There have been no other events or transactions that have materially affected the SmartGuy Group A/S financial position compared to the published Half Year report.
Questions regarding this announcement may be addressed to Nicolai Kærgaard, CEO, on mobile tel.: +45 26 22 99 11 or to Marc Jeilman, CFO, on mobile tel.: +45 20 35 25 80.
SmartGuy Group A/S
