Interim report 3rd quarter 2017/18
The Board of Directors has today presented and approved the interim report for the 3rd quarter of the financial year 2017/18. The interim report has not been audited or reviewed by the company auditors.
The interim report contains the following main points:
The result of the 3rd quarter (1 November 2017 – 31 January 2018):
- The turnover of the Group amounts to 285 mio. DKK against 269 mio. DKK last year corresponding to an increase of 6%. Adjusted for the inclusion of Carpet Concept the organic growth constitutes 1%.
- EBIT of the 3rd quarter makes up 16.8 mio. DKK and has decreased by 0.4 mio. DKK compared to last year. The development in exchange rates affects EBIT negatively with approx. 2.0 mio. DKK compared to last year.
- Investments of the quarter in long-term assets (both fixed and intangible) constitute 19 mio. DKK.
The result of 1st – 3rd quarter (1 May 2017 – 31 January 2018):
- The Group turnover amounts to 846 mio. DKK.
- EBIT makes up 55.8 mio. DKK against 55.3 mio. DKK last year. The development in exchange rates as well as the influence of this spring’s price increases in raw materials affect EBIT of the period negatively with approx. 8.5 mio. DKK compared to last year. The negative effect of the increases in raw materials has been on the decline in Q3 and is expected to be normalised in Q4.
- Investments of the period in long-term assets (both fixed and intangible) constitute 50 mio. DKK.
- Cash flows from operation make up 29 mio. DKK against 49 mio. DKK last year. The development is attributable to funds tied up in inventory.
Prospects 2017/18
Based on the development we have seen during the first 9 months of the financial year, our expectations for revenue are specified at 1,130 - 1,170 mio. DKK and an EBIT-margin of 6.5 - 7%. Cash flows from operating activities are adjusted to 55-65 mio. DKK.
| Contacts: | |
| Mr. John Vestergaard, CFO | Mr. Svend Aage Færch Nielsen, CEO |
| Tel. +45 97118811 | Tel. +45 97118811 |
egetæpper a/s
Herning, 15 March 2018
