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Interim report – second quarter of 2024

Written by Customer Service on . Posted in Earnings Releases And Operating Results.

Thursday, Schouw & Co. released its interim report for the second quarter of 2024; As expected, consolidated revenue for Q2 2024 was down on the year before, driven by a drop in volume sales combined with lower prices. EBITDA, on the other hand, increased significantly with BioMar as the main contributor. Cash flows from operations were kept on a high level.

Highlights

  • DKK 8.7bn revenue – a reduction of 5%
  • DKK 737m EBITDA – an increase of 11%
  • DKK 373m cash flows from operations – an reduction of DKK 11m
  • DKK 10.52 earnings per share – an increase of 14%
  • 13.8% ROIC excluding goodwill – an increase of 2.5 pp

Statement by Jens Bjerg Sørensen, President of Schouw & Co.

– Overall, Q2 2024 was a very strong quarter for Schouw & Co. Particularly BioMar, which is one of the world’s leading manufacturers of quality feed for farmed fish and shrimp, and the largest company in our portfolio, once again delivered strong earnings growth. The industrial businesses are challenged by reduced activity, but despite uncertain markets, they still maintain high margins. We maintain market share and have strong positions, but several of our customers are struggling.

The year 2024 is a year of consolidation for Schouw & Co. Our companies are strongly positioned, and our investment need is smaller than in prior years. We expect to generate a solid cash flow and to continue to see the effects of the expansions already completed and new activities over the coming years.

Based on the positive performance during the quarter, we are able to upgrade our full-year EBITDA guidance, despite lowering our revenue guidance. We continue to focus on profitability in both the short and long term, and we are optimistic about the future.

Video conference call (in English) in relation to the interim report

  • Thursday, 15 August 2024 at 15:30 CEST

Please attend via this link: www.schouw.dk/en/investors/conference-call 

Aktieselskabet Schouw & Co.

Jørgen Dencker Wisborg, Chairman
Jens Bjerg Sørensen, President, tel. +45 8611 2222

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