Gabriel realises solid revenue growth, increases profit before tax and maintains expectations for the year.
- Revenue increased by DKK 50.1 million (17%) to DKK 343.7 million (DKK 293.6 million)
- The increase in the second quarter was 20% to DKK 178.4 million (DKK 148.3 million)
- Operating profit (EBIT) increased by 31% to DKK 36.0 million (DKK 27.6 million)
- The increase in the second quarter was 41% to DKK 19.2 million (DKK 13.6 million)
- Profit before tax increased by 31% to DKK 36.4 million (DKK 27.7 million)
- In the second quarter, profit before tax increased by 46% to DKK 19.6 million (DKK 13.4 million)
- Return on invested capital was 24.9% (21.9%)
- Operating margin was 10.5% (9.4%)
- The sale of the Gabriel Ejendomme A/S subsidiary has been put on hold
- In April Gabriel North America Inc. acquired the share capital of the Mexican furniture manufacturer Grupo RYL, S. A. de C.V.
- Expectations for the 2018/19 financial year:
- Revenue and earnings realised for the first half-year are in the upper range of management’s expectations for the half-year.
- Revenue growth in the Group in the second half-year will be positively affected by the purchased businesses UAB Baltijos Tekstilė (Lithuania) and Grupo RYL, S. A. de C.V. (Mexico).
- As a result of acquisition and restructuring costs and the general effect on operations of the two acquisitions, the Group’s financial ratios for the second half-year are expected to end below those realised for the first half-year.
- As a whole, management expects that growth in revenue and earnings for the full year will end in the upper range of the 10-20% stated in the annual report.
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