Skive, Denmark, 2013-05-01 08:46 CEST (GLOBE NEWSWIRE) --
Dantherm realised revenue of DKK 119m in Q1 2013, which is 5 % higher than that of Q1 2012. Operating loss (EBIT) amounted to DKK 0.9m, which is an improvement by DKK 2.9m relative to Q1 2012. The improved quarterly revenue, relative to 2012, is primarily attributable to increased sales to network suppliers within the Telecom business area. Expectations for the whole year are maintained.
President & CEO Torben Duer says:
”According to expectations, developments within the Telecom business area improved at the beginning of 2013, primarily as a result of increased sales to network suppliers. Efforts to increase revenue and improve earnings continue with measures within market presence, product development and cost-effectiveness. With regard to this, Dantherm established a subsidiary in Germany and a sales office in Russia in Q1."
Development in Q1 2013
- Revenue was DKK 119m relative to DKK 113m in Q1 2012.
- An operating loss (EBIT) of DKK 0.9m was posted against an operating loss of DKK 3.8m in Q1 2012.
- Dantherm’s earnings before tax (EBT) totalled a loss of DKK 3.8m against a loss of DKK 6.0m in Q1 2012.
- Cash flows from operating activities were negative at DKK 10m against positive cash flows at DKK 6.1m in Q1 2012. This development is attributable to increasing working capital as a result of increased sales and stock building to meet increasing demands, especially from customers within Telecom.
- Dantherm’s net interest-bearing debt amounted to DKK 202m at the end of Q1 against DKK 188m at the beginning of the year. The interest-bearing debt includes finance lease commitments and bank debt relating to buildings of DKK 101m, and a net amount of DKK 101m has been drawn under the company’s operating credit facilities.
- As mentioned in company announcement no. 9 of March 25 2013, the Azure Hydrogen Energy Science and Technology Corporation, partner of Dantherm Power in China, has invested USD 2m in a ten-percent ownership interest in Dantherm Power.
Outlook for 2013
- Dantherm maintains expectations for the whole year of revenue of DKK 525-550m and an operating profit (EBIT) of DKK 15-20m, on par with the levels of 2011.
Any enquiries concerning this announcement can be directed at CEO Torben Duer on tel.: +45 99 14 90 14.
