Skive, Denmark, 2012-05-01 08:54 CEST (GLOBE NEWSWIRE) --
Dantherm realised revenue of DKK 113m in Q1 2012 and posted an operating loss of DKK 3.8m. The lower quarterly revenue relative to 2011 is primarily attributable to lower sales to network suppliers in the Telecom business area, while revenue for the Telecom network operators and within the HVAC business area was higher than in 2011. Increasing activity levels are expected for the remaining part of 2012, and the outlook for the year as a whole is maintained.
President & CEO Torben Duer says:
“As expected, the Telecom business area was off to a weak start in the beginning of 2012, primarily due to lower sales to network suppliers. The investments in sales and development made in 2011 are expected to contribute to a better development in Q2 2012. The development in the HVAC business area was positive in Q1, and the development in sales within several product areas was better than in 2011.”
Development in Q1 2012
- Revenue was DKK 113m relative to DKK 126m in Q1 2011.
- An operating loss (EBIT) of DKK 3.8m was posted against an operating profit of DKK 2.3m in Q1 2011. The lower revenue is the main reason for the lower operating results.
- Dantherm’s earnings before tax (EBT) totalled a loss of DKK 6.0m against a loss of DKK 1.3m in Q1 2011.
- Dantherm’s net interest-bearing debt amounted to DKK 186m at the end of Q1 and is on a par with the end of 2011. The interest-bearing debt includes finance lease commitments and mortgage debt of DKK 110m, and a net amount of DKK 76m has been drawn under the company’s operating credit facilities.
- Cash flows from operating activities were positive at DKK 6.1m against DKK 8.7m in Q1 2011.
- In Q1 2012, the primary credit institutions granted Dantherm a two-year extension of the bank credit agreement until 1 May 2014.
Outlook for 2012
- As expected, Dantherm experienced a weak Q1 2012 in line with the outlook previously announced. Increasing activity levels are expected for the remaining part of 2012, and Dantherm maintains the outlook for the year as a whole for growth in revenue and operating profit as compared to 2011.
Any enquiries concerning this announcement can be directed to CEO Torben Duer on tel. +45 99 14 90 14.
In case of doubt the Danish version is applicable
