Summary:
Gabriel Holding A/S delivers solid revenue and earnings in the first quarter of the financial year.
Expectations for the full financial year are maintained.
- As expected, the current pandemic continued to challenge the conditions for growth
- The Group’s revenue was DKK 186.6 million (DKK 204.4 million), a decrease of 9%
- Earnings before depreciation, amortisation and impairment losses (EBITDA) decreased by 5% to DKK 24.7 million (DKK 26.0 million)
- Operating profit (EBIT) decreased by 13% to DKK 14.9 million (DKK 17.1 million)
- Profit before tax decreased by 21% to DKK 12.3 million (DKK 15.6 million)
- Return on invested capital was 14.7% (20.2%)
- Operating margin was 8.0% (8.4%)
Expectations for the 2020/21 financial year:
In the 2019/20 annual report, management predicted that the development in the Group’s revenue and earnings in the first half-year of 2020/21 would show a negative trend followed by a positive development in the second half of the year.
The realised revenue and earnings before tax are in line with management’s expectations for the first quarter of the financial year. The expectations for the full financial year are maintained unchanged at revenue of the order of DKK 760-790 million and profit before tax of the order of DKK 50-55 million.
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