“We are very pleased with the continuing sales growth across all our business areas and geographies, which clearly documents the resilience of our business model. The EBIT margin before one-off special items showed a solid development in Q3, demonstrating our scalability, especially within production,” said CEO Lars Frederiksen.
• Revenue after nine months reached €415m, corresponding to reported growth of 11% and organic growth of 12%
– In Q3 revenue was 18% higher than the corresponding period last year, 15% measured organically
• EBIT before special items after nine months increased by 28%, and the EBIT margin before special items increased from 21% to 24%
– In Q3 EBIT before special items increased by 24% to €40m
• Special items primarily relating to the listing of the company amounted, after nine months, to €23m of which €19m relates to the announced two months bonus payment to employees. The expense net of tax will be reimbursed by the selling shareholder
• EBIT margin after nine months reached 18% compared to 19% last year.
– In Q3 the EBIT margin was 12%
• Profit before tax after nine months increased to €14m from a loss of €25m last year
• Events after the reporting period
– Successful listing of the company on 3 June 2010, in which a broad shareholder base was established with more than 5,000 new shareholders
– In June 2010 a refinancing of long-term financing took place, which has reduced net interest-bearing debt significantly.
Source: Chr Hansen
© FoodBev Media Ltd 2020