Announcement no. 35/2011
14 December 2011
Performance for Q2 2011/12 was highly unsatisfactory and underlines a need that has existed for some time for adopting a new strategic direction for the Company. The Board of Directors and Executive Board have therefore worked hard with the Company’s majority shareholder to complete a new three-year strategy, which will be announced in outline today. Concurrently with this, the traffic programme was adjusted in Q2 2011/12, and cost-saving initiatives were implemented, which will begin to take effect in the second half of 2011/12.
Revenue rose 4.8% to DKK 572.6 million in Q2 2011/12, and EBIT was a loss of DKK 43.1 million, as compared with a loss of DKK 2.2 million in Q2 2010/11. The negative trend in performance was due to a lower-than-expected level of activity, and higher costs of fuel and technical maintenance, among other things. Due to a narrower traffic programme and generally lower demand in Q2 2011/12, the guidance for revenue for the full year is reduced to DKK 2.0 billion (previously: DKK 2.1 billion), and EBIT is now expected to be a loss in the range of DKK 160-200 million (previously: a loss in the range of DKK 20-60 million).
For further information please see attached or contact:
Press:
Signe Thorup
E-mail: Signe.Thorup@cimber.dk
Tel: +45 60 29 26 26
Investor relations:
Jan Palmér
E-mail: ir@cimber.dk
Tel: +45 74 12 22 24
