Interim report – third quarter of 2019
Thursday, Schouw & Co. released its interim report for the third quarter of 2019. Consolidated revenue was up by 17% and EBITDA improved by 40%. Full-year EBITDA guidance is narrowed to a range of DKK 1,865-1,955 million.HighlightsBest third quarter ever with strong improvements in both revenue and earnings
Strong positive cash flow from operations of DKK 724 million
Revenue up by 17% to DKK 5,872 million, driven by acquisitions and organic growth
EBITDA up by DKK 176 million to DKK 621 million (of which DKK 52 million due to IFRS 16 effects)
Schouw & Co. upgrades full-year 2019 revenue guidance by approximately DKK 200 million
FY 2019 EBITDA guidance narrowed to middle of previous range
Statement by Jens Bjerg Sørensen, President of Schouw & Co.“We saw healthy demand in the third quarter, both generally and at portfolio company level. The combination of a healthy sales, reasonable margins, good cost management and positive developments for raw materials drove us to produce solid operating profit and a historically good third quarter.
Our two largest companies, BioMar and Fibertex Personal Care, are only to a limited extent affected by global economic developments, but our other portfolio companies are feeling the effects of the volatile economic climate. Our main focus for all our portfolio companies is profitability and maintaining our market positions. We have only limited investment needs and are approaching a period in which we will generate strong cash flows.“Conference call (in English) in relation to the interim reportThursday, 7 November 2019 at 15:30 CETPhone number for participants: DK: +4535445583 // UK: +442031940544 // SE: +46856642661 // US: +18552692604Aktieselskabet Schouw & Co.Jørn Ankær Thomsen, Chairman
Jens Bjerg Sørensen, President, tel. +45 8611 2222Attachment2019-11-07 Schouw 2019 Q3 ENG