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Gabriel Holding A/S – three quarters of the 2019/20 financial year

Written by Customer Service on . Posted in Public Companies.

Summary:After three quarters, Gabriel Holding A/S has realised revenue growth of 7% to DKK 556 million (DKK 520 million) and profit before tax of DKK 34.5 million (DKK 49.1 million).In the third quarter of the year, which was negatively affected by the outbreak of coronavirus (Covid-19), a 22% decrease in revenue and a loss before tax of DKK 2.2 million has been realised.The results realised in the third quarter exceeded management’s last expectations and the expectations for the last quarter of the year were adjusted upwardly as well. As a result here of, the total expectations for the full financial year were adjusted upward on 10 August 2020 in a separate company announcement.The total expectations for the full financial year are thus revenue of DKK 715-725 million (DKK 708 million) and profit before tax of DKK 28-33 million (DKK 62.9 million).Selected financial ratios:Revenue increased by DKK 36.1 million (7%) to DKK 556.3 million (DKK 520.2 million)Revenue in the third quarter decreased by 22% to DKK 138.3 million (DKK 176.5 million)Operating profit (EBIT) decreased by 18% to DKK 40.4 million (DKK 49.3 million)Operating profit (EBIT) in the third quarter was DKK 0.7 million (DKK 13.2 million)Net finance income and costs in the period were DKK -8.0 million (DKK -1.9 million), primarily due to currency movement and, to a lesser extent, to increased drawing on credit facilities and the effect of a change in IFRS 16Profit before tax decreased to DKK 34.5 million (DKK 49.1 million)Profit before tax in the third quarter was DKK -2.2 million (DKK 12.7 million)Return on invested capital was 13.9% (20.5%)Operating margin was 7.3% (9.5%)Expectations for the 2019/20 financial year:Revenue of DKK 715-725 million (DKK 708 million last year) and profit before tax of DKK 28-33 million (DKK 62.9 million last year) are expected for the full financial year 2019/20. The expectations were adjusted in a separate company announcement on 10 August 2020. A high level of uncertainty continues to surround these expectations, since the outbreak of coronavirus (Covid-19) in particular makes market prospects unclear.AttachmentGabriel Holding AS – Announcement no 12_Q3 2019_20

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