NASDAQ OMX Copenhagen A/S
Nikolaj Plads 6
1007 Copenhagen K
Anouncement 08 / 2012 27. April 2012 CVR no. CVR no. 15701315

interim report - First quarter of 2012

Summary: SP Group generated profit before tax and non-controlling interests of DKK 10.3 million in Q1 2012, against DKK 10.1 million in Q1 2011. Relative to Q1 2011, revenue was up by 7.3% to DKK 267.3 million and EBITDA was unchanged at DKK 25.7 million, as the positive trend in revenue and earnings achieved in 2011 has continued into 2012. We maintain the FY 2012 guidance announced in the 2011 Annual Report: We continue to expect FY 2012 profit before tax and non-controlling interests of more than DKK 35 million.

The Board of Directors of SP Group A/S has today considered and approved the interim report for the three months ended 31 March 2012. Highlights of the interim report:

  • Revenue improved by DKK 18.1 million (7.3%) relative to the year-earlier period to DKK 267.3 million in Q1 2012.

  • Earnings before depreciation/amortisation and impairment losses (EBITDA) for Q1 2012 was DKK 25.7 million, as against DKK 25.7 million in Q1 2011.

  • Earnings before financial items (EBIT) came to DKK 13.9 million in Q1 2012, against DKK 14.8 million in Q1 2011.

  • Net financials were an expense of DKK 3.5 million in Q1 2012, a DKK 1.2 million improvement on Q1 2011.

  • The profit before tax and non-controlling interests was DKK 10.3 million in Q1 2012, as against DKK 10.1 million in Q1 2011.

  • The coating business (Accoat) reported a revenue increase of DKK 8.0 million in Q1 2012. EBITDA improved to DKK 7.5 million from DKK 2.2 million in Q1 2011.

  • The Plastics businesses (SP Moulding, SP Medical, Tinby, TPI, Ergomat and Gibo Plast) reported an overall revenue improvement. Their EBITDA for Q1 2012 was DKK 21.9 million, down from DKK 28.0 million in Q1 2011. The performance was the result of a weaker product mix.

  • There was a cash inflow from operating activities of DKK 1.6 million, against a DKK 12.9 million cash outflow in Q1 2011.

  • Net interest-bearing debt amounted to DKK 373.3 million at 31 March 2012 against DKK 391.9 million at 31 March 2011.

  • We continue to expect FY 2012 profit before tax and non-controlling interests of more than DKK 35 million. We maintain our guidance of full-year revenue in excess of DKK 975 million, but the market outlook remains unclear.


CEO Frank Gad said: ”2011 was our best year to date in terms of profit and cash flows from operations. We continue to expect that we can do even better in 2012, provided the positive developments in the global economy continue.”

Read the entire report here

 

Best regards

 
   

Niels K. Agner

Chairman of the Supervisory Board

Frank Gad

Chief Executive Officder

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Incase of any discrepancies, the Danish version shall prevail.

 

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