Thursday, Schouw & Co. released its interim report for the first quarter of 2022; Strong revenue performance with 28% improvement for the quarter, good demand and growing volume sales.
Highlights
- Revenue up by 28% for the quarter
- EBITDA impacted from the situation in Ukraine and from higher costs of raw materials, energy and freight
- Trading with Russia has been suspended, including sales of finished products and purchases of raw materials
- Substantial revenue increase and satisfactory earnings performance expected.
Statement by Jens Bjerg Sørensen, President of Schouw & Co.
“Global uncertainty accelerated in the first quarter of 2022 following Russia’s invasion of Ukraine. Growing challenges in terms of the availability of raw materials and components and extraordinary high prices of the vast majority of raw materials and components as well as high energy and freight costs have affected all companies of the Schouw & Co. Group.
Our businesses are making extensive and persistent efforts to offset the effects of the cost increases. We are still seeing strong business activity – particularly for those of our companies selling industrial solutions – and thanks to our long-term partnerships with customers and suppliers, we have been able to navigate the increased uncertainty in a very satisfactory way.”
Video conference call (in English) in relation to the interim report
- Thursday, 5 May 2022 at 15:30 CEST
Please attend via this link: www.schouw.dk/CC2022
Aktieselskabet Schouw & Co.
Jørgen Wiborg, Chairman
Jens Bjerg Sørensen, President, tel. +45 8611 2222
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