Danish English
Published: 2009-11-19 13:00:04 CET
Scandinavian Investment Group A/S
Quarterly report
FURTHER ADJUSTMENT OF ORGANISATION AND BUSINESS OPERATIONS
Summary: In a continuing very difficult market DLH's revenue was 30% lower
in
the first three quarters of the year than in the comparative period last
year.
EBIT was a loss of DKK 86 million compared with a profit of DKK 5
million for
the comparative period last year. Measures to considerably reduce
working
capital has improved DLH's balance sheet total and secured a
substantial cash
inflow. 
The Group has today decided on a number of further
adjustments of the business,
including among other things the dismissal of
approximately 775 employees,
primarily in the loss-making African operations.
Isolated, these new
initiatives will ensure improvements of the results of
approx. DKK 85 million
annually, but will entail restructuring costs and
consequent write-downs of
additional DKK 280 million this year. Thus, the
earnings forecast for the year
is reduced to a pre-tax loss of between DKK
580-610 million.
 


33 interim report at 30.09.2009.pdf