Financial outlook for 2018

Outlook for 2018

  • Growth before acquisitions and measured in local currencies is expected to be around 5%.
  • EBITDA before special items is expected to be DKK 350-390 million.
  • Approximately DKK 25-30 million cost are expected to be incurred as a result of the Borough Green factory upgrade and resulting need to import products from sister companies. The increased transportation costs will be expensed at the point of sale and treated as a special item.
  • Approximately DKK 35 million for transaction and integration costs for HDKS will be expensed as special items
  • Investments excluding mergers, acquisitions and divestments are expected to be in the region of DKK 150 million of which approximately DKK 35 million relates to an investment required at one of the HDKS plants damaged by fire during the acquisition process. A similar amount was covered by a reduction in the purchase price.


Long-term financial targets have been upgraded as follows:

  •  EBIT margin before special items is upgraded to at least 11% from 8-10%
  •  ROIC is maintained at at least 12%
  •  Financial gearing between one and two