Brief: Schouw & Co Q1 EBIT Falls To DKK 149 Million

Schouw & Co.

05/05/2022 12:11

May 5 (Reuters) - Schouw & Co A/S  SCHO.CO :
    * REG-INTERIM REPORT – FIRST QUARTER OF 2022
    * Q1 REVENUE DKK 6,297 MILLION VERSUS DKK 4,906 MILLION YEAR
AGO
    * Q1 EBIT DKK 149 MILLION VERSUS DKK 269 MILLION YEAR AGO
    * Q1 PROFIT DKK 190 MILLION VERSUS DKK 203 MILLION YEAR AGO
    * SEES 2022 CONSOLIDATED  REVENUE OF DKK 27.9-29.8 BILLION
AGAINST
PREVIOUS GUIDANCE OF DKK 25.5- 27.5 BILLION
    * CHANGES IN PRICES OF RAW  MATERIALS MAY HAVE A SIGNIFICANT
IMPACT ON  CONSOLIDATED REVENUE AS THE YEAR PROGRESSES
    * FULL-YEAR EBITDA GUIDANCE IS REVISED TO  DKK 2,070-2,300
MILLION
RANGE FROM PREVIOUSLY DKK 2,150-2,400 MILLION
    * SCHOUW & CO. HAS NO PRODUCTION FACILITIES IN RUSSIA OR
UKRAINE,
AND THE TWO COUNTRIES ARE NOT AMONG GROUP’S PRINCIPAL MARKETS,
BUT BIOMAR,  FIBERTEX PERSONAL CARE AND BORG AUTOMOTIVE (THROUGH
THE RECENT ACQUISITION OF SBS AUTOMOTIVE) HAVE TRADITIONALLY HAD
QUITE PROFITABLE SALES TO THESE MARKETS
    * SEES NET FINANCIAL EXPENSES TO IMPROVE FROM PREVIOUSLY
ABOUT DKK
110 MILLION TO ABOUT DKK 20 MILLION
    * SEES NET FINANCIAL EXPENSES TIO IMPORVE MAINLY DUE TO
REASSESSMENT OF EARN-OUT PAYMENT RELATING TO BORG AUTOMOTIVE’S
ACQUISITION OF SBS AUTOMOTIVE
    * ON RUSSIA: EXPOSURE IS SOME DKK 100 MILLION, OF WHICH A 
PROVISION FOR LOSS OF DKK 56 MILLION HAS BEEN  MADE IN Q1 2022

Source text for Eikon:  ID:nGNEbcLXtQ 
Further company coverage:  SCHO.CO 

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