Report for the 2nd quarter of 2003

Gentofte, DENMARK

At its meeting today, the Board of Directors of Brødrene Hartmann A/S approved the Group's quarterly accounts for the period 1 April - 30 June 2003 (unaudited).
Asger Domino, President & CEO, is available for questions on tel. +45 45 87 50 30.
2Q 2003 at a glance:
  • Group revenue and profit after tax for 2Q 2003 were on a par with expectations.
  • Revenue for 2Q 2003 came to DKK 346 million, approx. 4% above the year earlier level of DKK 334 million.
  • Consolidated operating profit for 2Q 2003 performed slightly below expectations, coming to a negative amount of DKK -2 million against a positive DKK 13 million in 2Q 2002. However, interest income and expense and similar items stood somewhat better than expected due to positive foreign exchange adjustments.
  • The Group now expects an operating profit in the range of DKK 70 million and a net profit after tax of approx. DKK 25 million for the full year. This reflects a downwards adjustment of the original forecast due to a delayed effect of the Group's current improvement activities. The original expectations included an operating profit of approx. DKK 80-90 million and a net profit after tax of DKK 30 35 million. The revenue forecast is unchanged at DKK 1,500 million.
Mogens Petersen
Chairman of the Board
Asger Domino
President & CEO
The press release including tables can be downloaded from the following link:


Press release (PDF)