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To Nasdaq OMX Copenhagen A/S
Public announcement no. 507
August 26th, 2021
ECONOMIC KEY FIGURES FOR GLUNZ & JENSEN HOLDING A/S Q1 2021/22
The Q1, 2021/22 of the fiscal year was reviewed and approved at the Board of Directors meeting today. The Board of Directors announces the following consolidated financial statements year to date (YTD) for Q1 (the first 3 months) of 2021/22.
The Q1 result of the fiscal year 2021/22 has met the expectations under difficult market conditions.
The revenue for YTD Q1 2021/22 was impacted by COVID 19 and amounted to DKK 35,9 million (2020/21: DKK 33,7 million).
The process of strengthening earnings by streamlining and consolidating production and supply chain at the subsidiary in Slovakia is following the outlined plan and is close to being finalized.
An ambitious reduction of fixed costs, including a substantial head-count reduction was launched in August 2020 to counter the impact of the sluggish market situation for equipment in the prepress industry. The full benefits of these savings have been realized by the end of the 2020/21 financial year.
EBITDA for the period was DKK 5,9 million (2020/21: DKK -0,1 million.)
Profit before tax for the period was DKK 3,2 million (2020/21: DKK -4,6 million.)
Guidance for the full year 2021/22 is unchanged
For fiscal year 2021/22, the Group revenue is expected to be at the DKK 135-145 million level, while operating profit (EBITDA) is expected at the level of DKK 23 million. The profit before tax is expected at the DKK 12 million level.
Sale of Selandia Park
As highlighted in the annual report 2020/21, the Board of Directors decided to initiate a sales process for the investment properties in Selandia Park. Further information will be provided when available. The potential sale of Selandia Park is not included in the guidance.
For further information please contact:
CEO Martin Overgaard Hansen: phone +45 22 60 84 05
Chairman of the board Flemming Nyenstad Enevoldsen: phone +45 40 43 13 03