Growth in revenue and profit in first half

In the first half of 2011, Dantherm achieved a growth in revenue of 20%, and having improved results by DKK 19m, a small profit after tax is realised.

 | Source: Dansk Industri Invest A/S Dansk Industri Invest A/S

Skive, Denmark, 2011-08-25 08:45 CEST (GLOBE NEWSWIRE) -- The Board of Directors of Dantherm A/S has today approved the company’s unaudited interim report for the period 1 January to 30 June 2011, during which period, developments have been as follow:

  • Revenue of DKK 270m was posted for H1 against DKK 225m in H1 2010, corresponding to growth of 20%. The growth is primarily attributable to the Telecom and Domestic ventilation business areas which both realised a growth in revenue of about 60%.
    In Q2 2011, total revenue was up 19% relative to the prior-year period, and revenue for the quarter was the highest on record since 2008.
  • The group returned an operating profit (EBIT) for the first half of 2011 of DKK 8.8m against a profit of DKK 0.6m for the first six months of 2010.
    An operating profit of DKK 6.5m was returned for Q2 2011 against DKK 2.9m for the same period in 2010. The improvement is primarily attributable to the increase in revenue. As part of the growth strategy adopted, the sales and development force has been expanded, and staff costs are therefore approx. DKK 5m higher than for the first half of 2010.
  • The ownership share in Dantherm Power (38%) has not impacted results for H1 2011 as Dantherm’s stake in the company was written down to 0 at the end of 2010.
  • A consolidated net profit of DKK 1.4m was returned for H1 2011, representing an improvement of DKK 19.3m compared to the same period last year.
    The group posted a net profit of DKK 2.7m for Q2 2011 against a net profit of DKK 0.8m for the prior-year period.
  • As at 30 June 2011, the group’s net interest-bearing debt totalled DKK 194m against DKK 187m at the end of 2010. The interest-bearing debt includes finance lease commitments and mortgage debt of DKK 120m, while a net amount of DKK 74m has been drawn under the company’s operating credit facilities.

Outlook for 2011

  • The outlook for 2011 for the Dantherm group is of revenue of approx. DKK 550m (earlier DKK 500-550m), an operating profit (EBIT) of DKK 20-25m (unchanged), and thereby a small net profit (EBT).

Any enquiries concerning this announcement can be directed to President & CEO Torben Duer on tel. +45 99 14 90 14.

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