At its meeting today, the Board of Directors of Brødrene Hartmann A/S approved the Group's quarterly accounts for the period 1 January - 31 March 2003 (unaudited).
Asger Domino, President & CEO, is available for questions on tel. +45 45 87 50 30.
1Q 2003 at a glance:
- Group revenue and profit for 1Q were on a par with expectations.
- The overall outlook for 2003 is unchanged from the announcements made in the Group's Annual Report 2002.
- Revenue for 1Q 2003 came to DKK 378 million, and this is largely on level with the year-earlier figure of DKK 374 million. Operating profit for 1Q 2003 reached the expected level of DKK 18 million against DKK 31 million in 1Q 2002.
- The construction of the new production plant in Canada is proceeding as planned. Operations are scheduled to start up gradually over the summer of 2003.
- The turnaround programme initiated in Brazil is on track, although there is still some uncertainty concerning the speed at which financial improvements will be achieved.
- Since April the Hartmann share has been part of the new SmallCap+ index and in 2003 the share has increased by approx. 10%. Furthermore, the Hartmann share has been included in a new Nordic sustainability index, the Nordic Sustainability Index (NSI40).
BRØDRENE HARTMANN A/S
Mogens Petersen
Chairman of the Board
Asger Domino
President & CEO
