Highlights
- Overall, the Schouw & Co. businesses were off to a good start to the year. Consolidated revenue was up by 5% to DKK 2,405 million.
- EBIT was up by DKK 44 million to DKK 99 million.
- BioMar, Fibertex Nonwovens and Hydra-Grene all reported revenue and EBIT improvements.
- Fibertex Personal Care reported higher revenue but lower EBIT.
- The associate company Kramp reported improvement in revenue and EBIT.
- We maintain our full-year guidance for 2014. Accordingly, Schouw & Co. expects to generate full-year 2014 consolidated revenue of DKK 11.5-12.0 billion and EBIT in the DKK 535-660 million range.
Jens Bjerg Sørensen, President of Schouw & Co., said:
“Good climatic conditions and attractive developments in most of our companies' markets were the main reasons for the good start to the year for Schouw & Co.
All of our businesses reported revenue improvements in the first quarter, and we are generally seeing growing activity in all principal markets. Our markets remain very competitive, and as Q1 is traditionally the slowest quarter of the year for Schouw & Co., we maintain our full-year revenue and EBIT guidance for 2014.
Schouw & Co.'s net debt has been eliminated, and this is a good opportunity for us to leverage on the strong market positions we have built up in our businesses over the past several years. Our focus is on growth and development, and we see attractive opportunities for investing in organic growth.
Company acquisitions remain on our agenda. We have ambitious demands with respect to profitability and potential, but we are ready to act if the right opportunities present themselves."
Schouw & Co. will be reviewing the financial statements in a conference call (in Danish) for analysts, members of the press and other interested parties on telephone +45 3271 4768, access code 85783328#, on Tuesday, May 6, 2014 at 15.30.
Questions relating to the above should be directed to Jens Bjerg Sørensen, President, on tel. +45 8611 2222.
