“2011 became a landmark year for DLH during which we took a decisive step towards strengthening our position as a focused, global timber wholesaler. We achieved our earnings target despite the significantly deteriorating global economy. Efforts to further develop DLH as a dynamic, focused and profitable business will continue in 2012,” says President & CEO Kent Arentoft
- DLH achieved a turnover of DKK 2,937 million against DKK 3,125 million in 2010, corresponding to a fall of 6%
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Nonetheless, the Group improved its profitability – among other things by implementing a number of cost adjustments
- In 2011 EBITDA was DKK 87 million against DKK 76 million the previous year, corresponding to a rise of 14%
- The Group posted an EBIT of DKK 62 million in 2011 against DKK 49 million in 2010, corresponding to a rise of 27%. The EBIT margin rose from 1.6% to 2.1%
- Return on invested capital rose from 3.9% in 2010 to 5.8% in 2011
- DLH implemented a successful capital increase and a number of planned divestments of non-strategic operations, which helped to reduce the net interest bearing debt by 42% from DKK 948 million in 2010 to DKK 546 million in 2011
- The economic slowdown that took place in the second half year of 2011 continued into 2012 and put a damper on demand, which creates an imbalance between supply and demand. Despite this, DLH expects turnover and EBIT margin in 2012 to be on a par with 2011.
”During the year under review, we implemented a number of initiatives which will create the foundation for improving our EBIT in the future. DLH has become a more efficient company – and there remain opportunities for improvement that we’re actively pursuing,” says Kent Arentoft.
For further information about this announcement, please contact President/CEO Kent Arentoft on tel: +45 4350 0101.
