|
Q1 |
Q2 |
Q3 |
Q4 |
| € million (unless otherwise stated) |
2010 |
2009 |
2009 |
2008 |
2009 |
2008 |
2009 |
2008 |
| Financial and operating data of income statement |
|
|
|
|
|
|
|
|
| Revenue |
329.3 |
373.2 |
344.6 |
377.5 |
333.7 |
349.4 |
379.9 |
412.6 |
| Earnings before interest, tax and amortisation (EBITA) |
6.0 |
7.6 |
7.5 |
14.9 |
9.6 |
18.4 |
11.5 |
16.4 |
| Earnings before special items |
4.3 |
6.0 |
5.9 |
13.2 |
7.8 |
16.7 |
9.7 |
14.8 |
| Special items |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
(7.0) |
0.0 |
| Earnings before interest and tax (EBIT) |
4.3 |
6.0 |
5.9 |
13.2 |
7.8 |
16.7 |
2.7 |
14.8 |
| Financials, net |
(2.1) |
(0.9) |
(1.4) |
(1.7) |
(1.3) |
(2.4) |
1.4 |
(7.0) |
| Earnings before tax (EBT) |
2.2 |
5.1 |
4.5 |
11.5 |
6.5 |
14.3 |
1.3 |
7.8 |
| Net profit for the period |
1.0 |
2.9 |
2.5 |
8.2 |
4.5 |
10.0 |
0.2 |
4.5 |
| Earnings per share in € per share outstanding (EPS) |
0.13 |
0.43 |
0.37 |
1.20 |
0.67 |
1.48 |
0.03 |
0.67 |
| Earnings per share excl. amortisation in € per share outstanding |
0.34 |
0.67 |
0.61 |
1.45 |
0.94 |
1.73 |
0.28 |
0.91 |
|
|
|
|
|
|
|
|
|
| Financial and operating data of balance sheet |
|
|
|
|
|
|
|
|
| Total assets |
639.2 |
617.1 |
600.9 |
573.6 |
600.7 |
564.1 |
620.5 |
604.1 |
| Net investments in property, plant and equipment |
3.8 |
2.2 |
2.7 |
3.0 |
1.2 |
0.4 |
1.7 |
4.8 |
| Share capital outstanding |
105.5 |
90.1 |
90.1 |
91.1 |
90.2 |
90.0 |
105.5 |
90.1 |
| Equity |
261.4 |
210.2 |
201.5 |
219.5 |
210.0 |
221.2 |
258.7 |
205.0 |
| Interest-bearing liabilities |
150.9 |
196.9 |
198.9 |
170.0 |
168.8 |
161.6 |
150.7 |
232.3 |
| Interest-bearing liabilities, net |
100.5 |
194.1 |
191.4 |
166.4 |
167.3 |
157.0 |
102.8 |
229.0 |
|
|
|
|
|
|
|
|
|
| Financial and operating data for cash flow |
|
|
|
|
|
|
|
|
| Cash flow from operating activities |
10.7 |
39.5 |
22.4 |
1.0 |
32.0 |
19.1 |
24.3 |
12.9 |
| Cash flow from investing activities |
(6.0) |
(3.4) |
(5.8) |
(3.0) |
(4.3) |
(0.6) |
(6.9) |
(68.1) |
| Cash flow from financing activities |
(3.3) |
(2.7) |
(16.1) |
(23.2) |
(3.0) |
(9.0) |
44.8 |
50.6 |
|
|
|
|
|
|
|
|
|
| Financial ratios (% unless otherwise stated) |
|
|
|
|
|
|
|
|
| Revenue growth |
(11.8) |
3.4 |
(8.7) |
13.2 |
(4.5) |
4.0 |
(7.9) |
9.1 |
| Organic growth |
(14.3) |
(7.1) |
(17.2) |
10.4 |
(14.1) |
4.7 |
(10.1) |
(1.3) |
| EBITDA margin |
2.7 |
2.8 |
3.0 |
4.5 |
3.7 |
5.9 |
3.8 |
4.7 |
| EBITA margin |
1.8 |
2.0 |
2.2 |
3.9 |
2.9 |
5.3 |
3.0 |
4.0 |
| EBIT margin |
1.3 |
1.6 |
1.7 |
3.5 |
2.3 |
4.8 |
0.7 |
3.6 |
| Operating margin |
0.3 |
0.8 |
0.7 |
2.2 |
1.3 |
2.9 |
0.1 |
1.1 |
|
|
|
|
|
|
|
|
|
| Net working capital (NWC) / revenue (LTM)* |
15.4 |
17.4 |
16.4 |
18.2 |
15.5 |
18.1 |
15.1 |
18.8 |
Gearing (interest-bearning liabilities,
net / EBITDA (LTM)), no. of times |
2.2 |
2.9 |
3.1 |
2.0 |
3.2 |
2.0 |
2.1 |
3.1 |
|
|
|
|
|
|
|
|
|
| Return on equity (ROE) |
1.5 |
5.6 |
4.9 |
14.5 |
8.7 |
18.2 |
0.3 |
8.4 |
| Return on equity (ROE) excl. amortisation |
4.2 |
8.7 |
8.0 |
17.5 |
12.2 |
21.2 |
3.4 |
11.5 |
| Return on invested capital (ROIC) |
2.0 |
3.2 |
3.1 |
9.3 |
5.4 |
11.8 |
1.5 |
7.4 |
| Return on invested capital (ROIC) excl. amortisation** |
4.2 |
4.8 |
4.8 |
11.0 |
7.3 |
13.6 |
7.6 |
9.3 |
Adjusted market capitalisation /
operating profit or loss (EV / EBITA) |
21.1 |
11.3 |
12.7 |
8.5 |
10.8 |
6.4 |
9.4 |
6.1 |
| Equity ratio |
40.9 |
34.1 |
33.5 |
38.3 |
35.0 |
39.2 |
41.7 |
33.9 |
| Intrinsic value in € per share outstanding |
33.3 |
31.3 |
30.0 |
32.3 |
31.3 |
32.9 |
32.9 |
30.5 |
|
|
|
|
|
|
|
|
|
| Share price in € |
51.9 |
22.2 |
28.2 |
49.8 |
36.9 |
46.4 |
46.0 |
25.6 |
| Share price / intrinsic value |
1.56 |
0.71 |
0.94 |
1.54 |
1.18 |
1.41 |
1.40 |
0.84 |
|
|
|
|
|
|
|
|
|
| Share price in DKK |
387 |
166 |
210 |
372 |
274 |
346 |
343 |
191 |
|
|
|
|
|
|
|
|
|
| Employees |
|
|
|
|
|
|
|
|
| Average number of employees (FTE) |
2,973 |
3,352 |
3,184 |
2,861 |
3,109 |
2,942 |
3,055 |
3,461 |
|
|
Haderslevvej 25