The Board of Directors has today presented and approved the interim report for the first half-year of the financial year 2016/17. 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 second quarter (1 August 2016 – 31 October 2016)
- The result of the period before taxation and minority shareholders amounts to 14.3 DKK million. Compared to last year an increase of 5.8 DKK million or 68%.
- Result before financial items and taxation amounts to 16.2 DKK million, corresponding to an EBIT-margin of 6%.
- The group turnover amounts to 234 DKK million against 235 DKK million last year.
- New investments of the quarter in long term assets amount to 10 DKK million.
- Cash flows from operation amount to 13 DKK million.
The result of the first half-year (1 May 2016 – 31 October 2016):
- The result of the period before taxation and minority shareholders amounts to 33.6 DKK million against 48.8 DKK million last year. Corrected for the one-off income regarding the sale of our property in Vejle, it is an increase of 16%.
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Result before financial items and taxation amounts to 38.1 DKK million, corresponding to an EBIT-margin of 8%, which is at level with last year after correction of profit from the sale of our property in Vejle.
- The group turnover amounts to 457 DKK million.
- New investments of the quarter in long term assets amount to 20 DKK million.
- Cash flows from operation amount to 38 DKK million.
Prospects 2016/2017
As of 1 December 2016 egetæpper acquired 75% of the majority in Carpet Concept (stock exchange notification 16 December 2016). Based on this prospects for the financial year 2016/17 are adjusted with:
- Turnover 1,000 – 1,050 DKK million
- An EBIT margin of 7-8%
- Cash flows from operation 80-90 DKK million
- New investments in long-term assets 30-40 DKK million
- Investment in the acquisition of Carpet Concept 179 DKK million.
Contacts:
Mr. John Vestergaard, CFO Mr. Svend Aage Færch Nielsen, CEO
Tel. +45 97118811 Tel. +45 97118811
egetæpper a/s
Herning 12 December 2016
