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Interim report - first quarter of 2024
Tuesday, Schouw & Co. released its interim report for the first quarter of 2024; As expected, consolidated revenue for Q1 2024 was down on the year before, driven by a combination of lower prices and a drop in volume sales. EBITDA, on the other hand, increased strongly with BioMar as the main contributor, and cash flows from operations improved as well.
Highlights -
DKK 7.9bn revenue - a reduction of 9%
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DKK 652m EBITDA - an increase of 28%
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DKK 171m cash flows from operations - an increase of DKK 266m
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DKK 6.18 earnings per share - an increase of 45%
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13.5% ROIC excluding goodwill - an increase of 2.2 pp
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DKK +60m upgrade of full-year EBITDA guidance.
Statement by Jens Bjerg Sørensen, President of Schouw & Co.
- Schouw & Co. and in particular BioMar, our fish feed business and the largest company in our portfolio, were both off to a good start to 2024.
Both earnings and cash flows from operations were notably higher than in the same quarter of last year, while revenue declined due to lower prices of raw materials and components. This translated into a significant EBITDA margin increase.
In view of the good start to the year, we are cautiously optimistic and upgrade our EBITDA guidance. However, the global uncertainty with geopolitical conflicts, supply chain tension and challenged economies continues to affect our businesses in terms of activity levels and prospects.
At Schouw & Co., we remain focused on enhancing operating income and generating cash flows from operations in all our portfolio companies, which are also facing reduced capital expenditure requirements compared to the past few years.
Video conference call in English in relation to the interim report -
Tuesday, 30 April 2024 at 15:30 CEST
Please attend via this link: www.schouw.dk/en/investors/conference-call
Aktieselskabet Schouw & Co.
Jørgen Dencker Wisborg, Chairman
Jens Bjerg Sørensen, President, tel. +45 8611 2222
Attachment
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AKTIESELSKABET SCHOUW & CO. 