Thursday, Schouw & Co. released its interim report for the third quarter of 2015. Revenue and EBIT was repeated at the same level as in Q3 2014 but cash flow from operations was DKK 353 million better than in the same period last year. EBIT guidance for 2015 raised by about 10%.
Highlights
- The companies of the Schouw & Co. Group reported a combined operating profit for the third quarter of 2015 that was in line with the strong performance of the third quarter of 2014.
- Consolidated revenue was unchanged at DKK 3.6 billion.
- EBIT was unchanged at DKK 269 million.
- Cash flows from operating activities rose by DKK 353 million to DKK 396 million.
- A write-down of securities by BioMar increased the financial expenses by DKK 43 million.
- Fibertex Personal Care and Hydra-Grene both upgrade their FY EBIT guidance.
- Schouw & Co. raises the full-year EBIT forecast to the DKK 730-785 million range from the previous forecast of DKK 650-730 million.
Statement by Jens Bjerg Sørensen, President of Schouw & Co.:
“Schouw & Co. repeated the solid revenue and earnings performance in the third quarter of 2015 that we achieved in the same period of last year. Our businesses continue to operate in very competitive markets, but the combination of strong business activity and developments in the commodity and foreign exchange markets have enabled us to raise our EBIT guidance by about 10%.
Our cash flows from operations have improved strongly, and in the past 12 months we have reduced our net interest-bearing debt by more than DKK 350 million even while making new acquisitions, investing in and adding new output capacity and paying the largest dividend in Schouw & Co. history.
Schouw & Co. remains financially strong and we are ready to act should an attractive acquisition opportunity present itself. Our high ambitions for generating additional profitable growth remain in place.”
Conference call (in Danish) in relation to the interim report
Thursday 5 November 2015 at 15:30 CEST
Phone +45 80 25 01 87, pin 87131031#
Questions relating to the above
President Jens Bjerg Sørensen
Phone +45 86 11 22 22 or email schouw@schouw.dk
