Interim report 3rd quarter 2014/15
The management and the board of directors have today presented and approved the interim report for the 3rd quarter of the financial year 2014/15. The interim report has not been audited or reviewed by the company auditors.
The interim report contains the following main points:
The result of the third quarter (1 November 2014 – 31 January 2015):
- The 3rd quarter’s result before taxation and minority shareholders amounts to 10.3 DKK million against 20.9 DKK million last year, which is a result of an unexpected decrease in revenue combined with investments in new markets and segments, as well as expansion of the sales force.
- Result before financial items and taxation amounts to 14.1 DKK million, which results in an EBIT-margin of 6%
- The group turnover amounts to 224 DKK million against 204 DKK million last year, which is an increase of 10%. Adjusted for the effect of the acquisition of Hammer Tæpper, turnover is 6% lower than last year.
- The net investments in long-term assets during the period amount to 20 DKK million
- Cash flows from operation amount to 2 DKK million
The result of the period 1 May 2014 – 31 January 2015:
- The period’s result before taxation and minority shareholders amounts to 46.1 DKK million against 50.5 DKK million last year, which is a decrease of 9%.
- Result before financial items and taxation amounts to 54.8 DKK million, which results in an EBIT-margin of 9%.
- The group turnover amounts to 630 DKK million.
- The net investments in long-term assets during the period amount to 89 DKK million, of which the acquisition of Hammer Tæpper is included with 51 DKK million.
- Cash flows from operation amount to 41 DKK million
Prospects 2014/15
Based on the development we have observed during the first 9 months of the financial year, our expectations to revenue are adjusted from 900-950 DKK million to 850-875 DKK million. We maintain our expectations to an EBIT margin of 8-9%. Profit before tax is adjusted from 70-75 DKK million to 50-60 DKK million. Our expectations for cash flow from operating activities are reduced from 75-85 DKK million to 60-70 DKK million.
If the sale of the property in Vejle is completed within the current financial year, expectations for the annual result before taxation will be raised from 50-60 DKK million to 70-80 DKK million.
Contacts:
Mr. John Vestergaard, CFO Mr. Svend Aage Færch Nielsen, CEO
Tel. + 45 97118811 Tel. +45 97118811
egetæpper a/s
Herning, 12 March 2015
