Nasdaq OMX Copenhagen A/S
Company announcement no. 422
June 6, 2018
ANNUAL REPORT FOR GLUNZ & JENSEN HOLDING A/S FOR THE FISCAL YEAR 2017/18
The annual report for the fiscal year 2017/18 was reviewed and approved at the Board of Directors meeting today. The Board of Directors are satisfied with the achievements in the turnaround and with the results - and announces the following consolidated financial statements for 2017/18 consisting of 10 months from June 1st, 2017 to March 31st, 2018 set for approval at the Annual General Meeting on June 28th, 2018. The fiscal year 2016/17 consisted of 12 months.
The annual report has the following key figures:
The Group realized a revenue of DKK 220,0 million (2016/17: DKK 263,8 million), which is in line with the announced expectations (guidance) communicated to the market on September 22nd, 2017.
Gross profit before non-recurring items totaled DKK 63,3 million (2016/17: DKK 60,7 million), equal to a gross profit margin of 28,8% (2016/17: 23,0%). Gross profit after non-recurring items totaled DKK 62,8 million (2016/17: DKK 31,6 million), equal to a gross profit margin of 28,5% (2016/17: 12,0%).
Profit before financial income and expenses, tax, depreciation, amortization and impairment of assets and before non-recurring items – and excluding the fair value gain on property – the EBITDA was DKK 26,0 million (2016/17: DKK 15,3 million), The financial performance is in line with the guidance level of DKK 24,0 million.
Profit for the year totaled DKK 9,9 million (2016/17: a loss of DKK 61,0 million), equal to a profit in earnings per share (EPS) of DKK 6,0 per share in 2017/18 (2016/17: a loss of DKK 37,8 per share).
The Group expects a revenue for the fiscal year 2018/19 at the DKK 260,0 million level, while operating profit (EBITDA) – excluding non-recurring items and fair value adjustments on investment properties – is expected to increase to the DKK 38,0 million level.
For additional information:
CEO René Normann Christensen, +4524234677
Chairman of the Board of Directors Carsten Knudsen, +4521464236
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