Skive, Denmark, 2013-08-21 08:35 CEST (GLOBE NEWSWIRE) --
Dantherm realised revenue of DKK 239m in H1 2013, which is 3 % higher than that of H1 2012. An operating profit (EBIT) of DKK 2.4m was posted against an operating loss of DKK 2.8m in H1 2012. Increasing activity levels are expected for H2 2013 and the outlook for the year as a whole is maintained.
President & CEO Torben Duer says:
”As expected, we saw positive development within the Telecom business area in the first half of 2013 and activities within HVAC were stable. Efforts to increase revenue and improve earnings and cash flows continue with measures within market presence, product development and cost-efficiency.”
Development in Q2 2013
Revenue was DKK 121m relative to DKK 120m in Q2 2012. Revenue within HVAC was 10 % lower, whereas revenue within Telecom increased by 19 % relative to the same period of 2012.
An operating profit (EBIT) of DKK 3.3m was posted against an operating profit of DKK 1.0m in Q2 2012. Lower costs are the main reason for the higher operating result.
Cash flows from operating activities of DKK 3m were posted against cash flows from operating activities of DKK 8m in Q2 2012.
Development in H1 2013
Revenue was DKK 239m against DKK 232m in H1 2012. Revenue within HVAC was 10 % lower, whereas revenue within Telecom increased by 28 %.
An operating profit (EBIT) of DKK 2.4m was posted against an operating loss of DKK 2.8m in H1 2012.
Cash flows from operating activities were negative at DKK 7m against positive cash flows at DKK 14m in H1 2012. The negative cash flows are attributable to increasing working capital as a result of increased sales and stock building to meet increasing demands, especially from customers within Telecom.
Outlook for 2013
Dantherm maintains expectations for the whole year of revenue of DKK 525-550m and an operating profit (EBIT) of DKK 15-20m, on par with the levels of 2011.
Expectations of increased activities in H2 2013 are primarily based on increased sales to Telecom network operators, especially in Q4 as a result of measures within market presence and product development.
Any enquiries concerning this announcement can be directed at CEO Torben Duer on tel.: +45 99 14 90 14.
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