Highlights latest financial report

 

Financial highlights Q1 2018

  • Revenue including the acquired business for the first quarter increased by 15% in DKK to DKK 434 million (2017: DKK 377 million). Revenue, excluding the acquired business, increased by 5% in local currencies (organic growth) (2017: 6%).
  • EBITDA before special items for the first quarter was DKK 40 million (2017: DKK 37 million).
  • EBIT before special items for the first quarter was DKK 13 million (2017: DKK 17 million). EBIT margin before special items for the first quarter was 3% (2017: 5%). EBIT before special items for the first quarter has been negatively affected by the planned stand still of the factory in Borough Green and amortisation of order book and trademark identified in the purchase price allocation of HDKS. Adjusted for these items, EBIT-margin would have been higher than last year. The impact of the items will predominately affect first half of 2018.
  • Special items for the first quarter was DKK 16 million (2017: DKK 5 million), of which DKK 7 million is related to sale in the UK of imported products and DKK 9 million related to transaction and integration costs of HDKS and Grupa Silikaty.
  • Free cash flow excluding acquisitions and divestments for the first quarter was DKK (99) million (2017: (94) million). The development is mainly due to normal seasonal increases in working capital.
  • Net interest-bearing debt at 31 March 2018 was DKK 1,352 million (31 March 2017: DKK 483 million). The increase in net-interest bearing debt is primarily related to the acquisition of HDKS.