The management and the Board of Directors have today presented and approved the interim report for the 3rd quarter of the financial year 2015/16. 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 3rd quarter (1 November 2015 – 31. January 2016):
- The 3rd quarter’s result before taxation and minority shareholders amounts to 14.1 DKK million against 10.3 DKK million last year.
- Result before financial items and taxation amounts to 17.1 DKK million, corresponding to an EBIT-margin of 7%.
- The group turnover amounts to 230 DKK million against 224 DKK million last year, corresponding to an increase of 3%.
- New investments in long-term assets during the period amount to 12 DKK million.
- Cash flows from operation amount to 25 DKK million.
The result of 1st – 3rd quarter (1 May 2015 – 31. January 2016):
- The period’s result before taxation and minority shareholders amounts to 62.9 DKK million against 46.1 DKK million last year, corresponding to an increase of 36%. Corrected for the one-off income regarding the sale of our property in Vejle, it is a decline of 7%.
- Result before financial items and taxation amounts to 73.7 DKK million equal to an EBIT-margin of 11%. Profit from the sale of our property in Vejle is included with 19.8 DKK million. Adjusted for the latter, EBIT makes up 8%. As planned many resources are used on expansion and branding. Overall, investments in these engagements amount to approx. 12 DKK million.
- The group turnover amounts to 699 DKK million.
- New investments in long-term assets during the period amount to 38 DKK million.
- Cash flows from operation (incl. sale of property in Vejle) amount to 79 DKK million.
Prospects 2015/16
Our initiatives within product development, further construction of the sales force and markets as well as branding are all areas with a longer strategic aim and phase in. We are experiencing growth and amended results in several of our primary markets, not least England and France. However, we find that the time frame for achieving the desired results in several markets will be lengthy.
In the light of the above our expectations to the revenue are adjusted to 925-950 DKK million. We maintain our expectations to an EBIT-margin of 8-9%. We expect the result before taxation to be at level with last year, before one-off income regarding the sale of our property in Vejle. The result before taxes is thus adjusted to 70-80 DKK million against previously 80-90 DKK million.
Our expectations to cash flows from operating activities are maintained at 80-90 DKK million.
Contacts:
Mr. John Vestergaard, CFO Mr. Svend Aage Færch Nielsen, CEO
Tel. + 45 97118811 Tel. +45 97118811
egetæpper a/s
Herning, 17 March 2016
