Annual report 2007

Today the Supervisory Board of SP Group considered and adopted the Annual Report 2007 which is attached in its entirety. The annual report features the following main items:

2007

• Revenue increased 5.4% to DKKm 869.7. Adjusted for acquisitions and divestments growth was 2% and the growth was declining in the course of the year.
• This growth was primarily generated outside Denmark, where revenue increased 9.8% as a result of the efforts to cultivate new markets and new clients. Revenue in Denmark increased 2.5%.
• Sales to medico customers amounted to DKKm 179.6. Since 2003 sales to this industry has grown 150% and amounts today to 21% of the total sales of the Group.
• The sale of the Group’s own brands increased 11.1% to DKKm 140.
• EBITDA was on the whole unchanged DKKm 72.9.
• Profit before tax and minority interests increased to DKKm 21.2.
• Result per share increased 18.1% to DKK 6.33.
• Cash flow from operations increased to DKK m 53.6. A positive change in cash reserve of DKKm 11.1.

2008

• SP Group expects its revenue to increase 3-7% to DKKm 895-930.
• EBITDA margin is expected to grow to 10% which corresponds to an EBITDA result of approx. DKKm 90.
• EBIT is expected to grow to the level of DKKm 50.
• Profit before tax and minority interests is expected to rise to approximately DKKm 30.
• Progress is not expected to be noticeable until the second half of 2008.
• Changes in the Group’s activities, commodity and electricity prices, currency conditions and business trends may affect these expectations.

Financial objectives

• Revenue is expected to increase to approx. DKK 1 billion in 2009 and approx. DKK 1.5 billion in 2012.
• The EBITDA-margin is to be increased to over 10%.
• Result before tax and minority interests is expected to increase to approx. DKKm 50 in 2009 and approx. DKKm 100 in 2012.
• The net interest-bearing is expected to correspond to 3-4 times EBITDA in 2009.
• The financial goals are based on the assumption of annual average GNP growth of 3% on the Group’s markets and generally successful markets.

Download the report here

Med venlig hilsen

Niels K. Agner Bestyrelsesformand	Frank Gad Adm. direktør

Incase of any discrepancies, the Danish version shall prevail.

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