Brief: Gabriel Holding Adjusts Prelim FY EBIT Down To DKK 65 Mln

Gabriel Holding A/S

28/10/2022 12:07

Oct 28 (Reuters) - Gabriel Holding A/S  GABR.CO :
    * GABRIEL HOLDING A/S: PRELIMINARY RESULTS, AND CHANGED
EXPECTATIONS, FOR THE FULL FINANCIAL YEAR 2021/22
    * PRELIMINARY, NOT YET AUDITED, RESULTS FOR FULL 2021/22
FINANCIAL
YEAR SHOW REVENUE OF DKK 1,065 (DKK 809.7 LAST YEAR)
    * PRELIMINARY, NOT YET AUDITED, RESULTS FOR FULL 2021/22
FINANCIAL
YEAR SHOW EBIT OF APPROXIMATELY DKK 65 MILLION (DKK 58.6
MILLION).
    * DOWNWARD ADJUSTMENT IS A RESULT OF PROFIT GENERATION IN
LAST TWO
MONTHS OF YEAR NOT BEING IN LINE WITH EXPECTATIONS
    * REASON FOR LOWER-THAN-EXPECTED PROFIT GENERATION IS A
COMBINATION OF SEVERAL FACTORS
    * INCREASES, IN PARTICULAR IN COSTS OF RAW MATERIALS AND OF
ENERGY, AND SHIFTS IN GROUP'S PRODUCT MIX
    * TOWARDS END OF YEAR THERE WAS A FALL IN ORDER INTAKE IN
FURNMASTER BUSINESS UNITS IN PARTICULAR,
    * GROUP'S EXTERNAL COSTS WERE NEGATIVELY IMPACTED BY
INFLATION,
WHICH BROADLY AFFECTS ALL COST ITEMS BUT GAS AND ELECTRICITY FOR
OPERATION OF GROUP'S PHYSICAL FACILITIES AND PRODUCTION IN
PARTICULAR
    * BELIEVES THAT REVENUE AND PROFIT IN 2022/23 WILL CONTINUE
TO BE
CHALLENGED BY INTERNATIONAL POLITICAL SITUATION AND INFLATION
    * EXPECTS 2022/23 REVENUE OF ORDER OF DKK 1,000-1,100
MILLION AND
OPERATING PROFIT (EBIT) OF ORDER OF DKK 50-60 MILLION

Source text for Eikon:  ID:nGNE1HX7tj 
Further company coverage:  GABR.CO 
 (Gdansk Newsroom)
 ((gdansk.newsroom@thomsonreuters.com; +48 58 7696600;))