Interim report for the second quarter of 2013/14 (the period 1 January 2014 to 31 March 2014)
Growth in turnover gives considerable increase in operating profits in the second quarter
ET | Source:RTX
The Supervisory Board of RTX A/S has today considered and adopted the Group’s interim report for the second quarter of the financial year 2013/14 (covering the period 1 January to 31 March 2014).
Summary of the interim report of the RTX Group for the second quarter of 2013/14
Group revenue amounts to DKK 75.4 million in the second quarter of 2013/14 compared to DKK 59.2 million in the same period last year. The growth in revenue of 27.2% is primarily caused by increased sales in Enterprise & VoIP, where revenue increased by 42.0%, and the business unit Design Services realized a growth in revenue of 2.8%.
The Group’s gross profit increased from DKK 34.0 million to DKK 42.3 million, but due to the mix in revenue the Group’s gross margin decreased slightly in the second quarter of 2013/14 to 56.1% compared to 57.4% last year.
Capacity costs in the second quarter were on par with last year.
As scheduled the depreciation on intangible assets increased in the second quarter of 2013/14 by DKK 0.4 million compared to the same period last year.
Operating profit (EBIT) amounts to DKK 10.7 million compared to DKK 3.1 million last year.
Profit after tax amounts to DKK 10.1 million compared to DKK 3.0 million in the same period last year.
The Group’s total cash flow in the second quarter was DKK 9.0 million compared to negative DKK 1.5 million in the same period last year.
The development in the second quarter substantiates the revised announced expectations for the financial year 2013/14 (ref. announcement no. 17/2014 dated 27 March 2014), which are therefore maintained.
Summary for the first half-year of 2013/14 for the RTX Group
Revenue amounts to DKK 144.0 million in the first half-year of 2013/14 compared to DKK 109.8 million in the same period last year equivalent to an increase of 31.1%.
The Group’s gross profit increased from DKK 63.8 million to DKK 80.4 million, but due to the mix in revenue the Group’s gross margin decreased slightly in the first half-year of 2013/14 to 55.9% compared to 58.1% in the same period last year.
Capacity costs in the first half-year were slightly below last year’s level.
Operating profit (EBIT) amounts to DKK 19.5 million compared to DKK 4.2 million last year.
The Group’s total cash flow in the first half-year was DKK 14.3 million compared to DKK 3.2 million in the same period last year.
After the first six months of the financial year RTX has experienced an increase in orders and forecasts from our major customers compared to Management’s expectations announced in connection with the published annual report (ref. announcement no. 13/2013 dated 6 December 2013). Based on this increase Management raised expectations for revenue and EBIT for the financial year 2013/14 by the end of March 2014, so revenue for 2013/14 is now expected in the range of DKK 285-300 million, EBIT in the range of DKK 30-38 million and EBITDA in the range of DKK 38-46 million (ref. announcement no. 17/2014 dated 27 March 2014). Particularly the order intake and received customer forecasts in the business unit Enterprise & VoIP are developing better than anticipated. Also in the business unit Design Services the order book is developing positively within the consultancy business.
President & CEO
Questions and further information:
President & CEO Flemming Hynkemejer, tel. +45 96 32 23 00.
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