Thursday, Schouw & Co. released its interim report for the second quarter of 2019. Consolidated revenue was up by 10% and EBITDA improved by 5%. Full-year revenue guidance is raised.
Highlights
- Strong improvements in revenue and cash flows from operations
- Revenue up by 10% to DKK 4,969 million, driven by acquisitions and organic growth
- EBITDA up by DKK 20 million to DKK 419 million due to positive IFRS 16 effects
- Schouw & Co. upgrades full-year 2019 revenue guidance by approximately DKK 500 million
- Positive EBITDA performance expected despite non-recurring costs
Statement by Jens Bjerg Sørensen, President of Schouw & Co.
“Our Q2 2019 performance was largely in line with expectations. BioMar won a number of attractive contracts, and that has made us raise the guidance for BioMar’s full-year revenue and earnings. On the other hand, the current challenges facing the European auto industry has made us lower the earnings guidance for Fibertex Nonwovens and Borg Automotive.
We have invested heavily in recent years to prepare Schouw & Co. for the future, adding new portfolio companies and expanding existing capacity. As a result, Schouw & Co. is today the owner of six attractive and extremely well-invested businesses. Once this year’s projects are completed, we will have finalised most of our planned investments, and we will be looking forward to reaping the benefits over the following years. Schouw & Co. is strongly positioned and well prepared for the future.“
Conference call (in English) in relation to the interim report
- Thursday, 15 August 2019 at 15:30 CEST
- Phone number for participants: DK: +4535445583 // UK: +442031940544 // SE: +46856642661 // US: +18552692604
Aktieselskabet Schouw & Co.
Jørn Ankær Thomsen, Chairman
Jens Bjerg Sørensen, President, tel. +45 8611 2222
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