Interim report – third quarter of 2016
Thursday, Schouw & Co. released its interim report for the third quarter of 2016. Consolidated revenue was up by 20% and EBIT improved by 30%. Full-year EBIT guidance raised to the range of DKK 965-1,030 million.
Highlights
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Overall, the Schouw & Co. businesses had a very good third quarter of 2016.
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Consolidated revenue was up by 20% to DKK 4,325 million.
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EBIT was up by 30% to DKK 351 million.
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Organic growth in revenue was 7%, and organic growth in EBIT accounted for 20%.
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Profit from associates amounted to DKK 516 million including the accounting gains from the sale of shares in Kramp and Scandinavian Micro Biodevices.
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BioMar, Fibertex Personal Care and GPV have raised their FY EBIT guidance.
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Schouw & Co. now expects FY 2016 revenue of about DKK 14.0 billion. The Group raises its EBIT guidance by about DKK 100 million to the range of DKK 965-1,030 million.
Statement by Jens Bjerg Sørensen, President of Schouw & Co.
“Schouw & Co. continued the steady development in the third quarter, extending the streak from the past many quarters. Our operating profit for the third quarter of DKK 351 million is the best quarterly EBIT in Group history. Our businesses have good momentum and it is a positive surprise that we’ve been able to raise our EBIT guidance by more than 10%, thereby raising our profit before tax guidance to more than DKK 1.5 billion.
We’re still seeing the positive effects of our recent acquisitions of the hydraulics business Specma and the EMS company GPV. Both are contributing well to our revenue and earnings. We’re currently pursuing a substantial investment programme across the Group to ensure that we have sufficient capacity for future growth, and we are allocating substantial resources to prepare for the future by way of innovation and product development.
Schouw & Co. has a strong platform for future profitable growth based on a positive performance by all of our portfolio businesses.”
Conference call (in Danish) in relation to the interim report
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Thursday, 11 November 2016 at 15:30 CET
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Phone +45 7873 7892, access pin 2721490#
Aktieselskabet Schouw & Co.
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Jørn Ankær Thomsen, Chairman
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Jens Bjerg Sørensen, President, tel. +45 8611 2222
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