Gabriel Holding A/S upwardly adjusts its expectations for the financial year 2023/24
15 April 2024 - 4:48PM
UK Regulatory
Gabriel Holding A/S upwardly adjusts its expectations for the
financial year 2023/24
The interim report for the first 6 months of the
year will be announced in accordance with the year's financial
calendar on 2 May 2024.
After 6 months, revenue of DKK 469 million
against DKK 492 million in the same period of 2022/23 has been
realised, which is above the expectations for the period. The
revenue development is primarily driven by growth in the Group's
global fabric business, including the SampleMaster business unit,
while the upholstering units (FurnMaster), as expected, realize a
slight revenue decline compared to the same period last year. Under
the given market challenges, management assesses that the revenue
development indicates a strong competitiveness and market position
for the Group.
The calculated and preliminary results for the
first 6 months of the year show an EBIT result of DKK 10.5 million
compared to DKK 21.2 million in the same period last year. The
calculated EBITDA result amounts to DKK 35 million compared to DKK
44.5 million in the same period last year. During the period,
financial costs of DKK 9 million were realised compared to DKK 8
million in the same period last year. The profit share from the
joint venture amounts to DKK -0.5 million compared to DKK 0.1
million in the same period last year. The calculated profit before
tax (EBT) is calculated at DKK 1.2 million compared to DKK 13.4
million in the same period last year.
In the annual report for the financial year
2022/23, management for the financial year 2023/24 expected revenue
of DKK 850-900 million and a primary profit (EBIT) of DKK 0-10
million, that the financial items will continue to be negative in
2023/24, and that a negative profit before tax but a positive cash
flow is expected.
However, the calculated result for the first
half of the financial year is above expectations, which is why
management is raising its expectations for the full financial year
2023/24 to revenue of DKK 880-930 million and operating profit
(EBIT) of DKK 8-15 million, that financial items will remain
negative in 2023/24, and that a negative profit before tax, but a
positive cash flow, are expected.
The outlook for the year remains affected by the high degree of
uncertainty that characterises demand in Gabriel's primary markets,
primarily related to known geopolitical challenges.
Further information
Anders Hedegaard Petersen, CEO
Gabriel Holding A/S
+45 96 30 31 17
This company announcement is available in Danish and English. In
case of doubt, the Danish version shall prevail.
- Gabriel Holding AS - Announcement no 5 - expectations for the
2023 - 24 financial year
Gabriel Holding A/s (LSE:0HY9)
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