Thursday, Schouw & Co. released its interim report for the first half of 2015. Revenue increased by 16% and EBIT improved by 26%. Outlook for full-year EBIT raised for the second time in 2015.
Highlights
- The Schouw & Co. Group had a good first six months of 2015 with all portfolio companies reporting earnings improvements.
- Revenue was up by 16% to DKK 5,888 million.
- EBIT improved by 26% to DKK 303 million.
- Kramp and Xergi both reporting strong improvements in profit after tax.
- Fibertex Nonwovens and Hydra-Grene both upgrading their EBIT guidance.
- Fibertex Personal Care narrowing its FY EBIT guidance to the upper level of its previous guidance range.
- Schouw & Co. maintains its guidance of full-year revenue of approximately DKK 12.5 billion. The company raises its full-year EBIT forecast to the range of DKK 650-730 million from the previous forecast of DKK 630-720 million.
Statement by Jens Bjerg Sørensen, President of Schouw & Co.:
“Our good performance continues, and we lifted H1 revenue and earnings by substantial margins. Our investments and acquisitions are producing good results, but our earnings were also lifted by favourable developments in exchange rates and prices of raw materials.
All of our wholly owned portfolio companies are reporting improvements, and we're upgrading our EBIT guidance for the second time this year.
Our partly owned businesses are also performing well and reporting attractive earnings. We are now recognising the full effects of our 20% ownership interest in Kramp, Europe's leading agricultural wholesaler, and our long-standing investment in biogas producer Xergi is showing very promising developments.
At Schouw & Co., we consider potential investment opportunities as and when they arise, and we continue to believe in the importance of strengthening our existing portfolio companies. Schouw & Co. is virtually debt-free, and we have the potential and the ambition to continue to generate profitable growth.”
Conference call (in Danish) in relation to the interim report
- Thursday 13 August 2015 at 15:30 CEST
- Phone +45 32 71 47 68, pin 7283 5545#
Questions relating to the above
- President Jens Bjerg Sørensen
- Phone +45 86 11 22 22 or email schouw@schouw.dk
