Skælskør, 2012-10-04 13:19 CEST (GLOBE NEWSWIRE) --
CEO Bernhard Griese on the interim report:
“As expected, revenue fell relative to the same period last year, among other things as a result of the discontinued collaboration with a large North European customer at the beginning of 2012, but also because we wish to devote our production resources to volume that contributes to long-term value creation. This means that we have not accepted orders which would take up capacity without generating acceptable earnings margins. Instead, we are well on our way to replacing the above-mentioned customer with new international customer relations reflecting our continued strategic growth initiatives. This has, however, not fully compensated for the fall in sales, which have been significantly influenced by the cold summer, which is otherwise the high season.
Earnings were negatively affected by a continued increase in the prices of our primary raw materials, which, due to the fierce competition, cannot simply be added to selling prices. We do expect, however, that our activities will develop positively during the rest of the year, and we thus maintain our outlook.”
Bernhard Griese
CEO
