Published: 2009-11-19 13:00:04 CET
Dalhoff Larsen & Horneman A/S - Quarterly report
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
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