To Nasdaq OMX Copenhagen A/S
Public announcement no. 446
June 3, 2019
ANNUAL REPORT FOR GLUNZ & JENSEN HOLDING A/S FOR THE FISCAL YEAR 2018/19
The annual report for the fiscal year 2018/19 was reviewed and approved at the Board of Directors meeting today. The Board of Directors are dissatisfied with the achievements in the turnaround and with the results - and announces the following consolidated financial statements for 2018/19 set for approval at the Annual General Meeting on June 25th, 2019.
The annual report has the following key figures:
The Group realized a revenue of DKK 227,5 million (2017/18: DKK 220,0 million), which is in line with the announced expectations (guidance) communicated to the market on February 6th, 2019.
Gross profit before non-recurring items totaled DKK 50,5 million (2017/18: DKK 63,3 million), equal to a gross profit margin of 22,2% (2017/18: 28,8%). Gross profit after non-recurring items totaled DKK 43,8 million (2017/18: DKK 62,8 million), equal to a gross profit margin of 19,2% (2017/18: 28,5%).
Profit before financial income and expenses, tax, depreciation, amortization and impairment of assets and before non-recurring items – and excluding the fair value adjustment on property – the EBITDA was DKK 16,4 million (2017/18: DKK 26,0 million). The financial performance is in line with the guidance level of DKK 16 million.
Loss for the year totaled DKK 6,9 million (2017/18: a profit of DKK 9,9 million), equal to a loss in earnings per share (EPS) of DKK 3,8 per share in 2018/19 (2017/18: a profit of DKK 6,0 per share).
The Group expects the revenue for the fiscal year 2019/20 at the DKK 225 million level, while operating profit (EBITDA) – excluding non-recurring items and fair value adjustments on investment properties – is expected at the DKK 25 million level.
For further information:
CEO, Henrik Blegvad Funk, +4524234677
Chairman of the Board Carsten Knudsen, +4521464236
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