‘We continue to experience particularly difficult market conditions in Europe. We have, however, succeeded in continuing our growth in overseas markets and, during the year, we reduced our debt significantly. We maintain our expectations for the full year 2012,’ says CEO, Kent Arentoft.
• Turnover for the first nine months of the year totals DKK 1,872 million against DKK 2,011 million for the same period last year.
• Global Sales saw growth of 30% whereas the European business saw a fall in turnover of 18% as a result of difficult market conditions.
• The lower turnover and gross margin have impacted on the results for the period:
º EBITDA was DKK 18 million against DKK 61 million last year.
º EBIT was DKK 3 million against DKK 44 million last year.
• Since 30 June 2012, DLH has reduced its net interest bearing debt by DKK 182 million, from DKK 527 million to DKK 345 million. Approximately half of the reduction can be attributed to a decrease in working capital while the divestment of assets has contributed approximately DKK 90 million.
• DLH continues its efforts to reduce its net interest bearing debt through the divestment of discontinued operations and the reduction of working capital.
• DLH maintains its expectations for 2012 for turnover of approximately DKK 2.5 billion and an EBIT margin of approximately 0% and, if the market does not improve in 2013, turnover and EBIT margin are expected to be on a par with 2012.
The Supervisory Board has today approved the interim report for the period 1 January to 30 September 2012.
For further information about this announcement, please contact President/CEO Kent Arentoft on tel.: +45 4350 0101.
