Interim Report for Q1 2024
25 April 2024 - 2:05AM
UK Regulatory
Interim Report for Q1 2024
Company Announcement No. 4 - 2024
to Nasdaq Copenhagen
2024.04.24
Interim Report for Q1 2024
In the first quarter of 2024 AO achieved a
revenue of DKK 1,251m, an EBITDA of DKK 68m, and an EBT of DKK 34m.
The results were in line with the expectations, and guidance for
2024 is unchanged.
Market activity in general was lower than last
year. In addition, rough weather conditions at the start of the
year and the timing of Easter resulted in a reported sales index of
89. Second quarter is expected to show flat growth rates while a
return to positive growth is expected during the second half of the
year.
| Financial
Highlights (DKKm) |
|
|
Q1 2024 |
Q1 2023 |
|
|
| |
|
|
|
|
|
|
| Net
Revenue |
|
|
1,250.9 |
1,404.3 |
|
|
| Gross
Margin |
|
|
292.9 |
333.9 |
|
|
| EBITDA |
|
|
68.2 |
121.9 |
|
|
| EBT |
|
|
34.2 |
83.2 |
|
|
| |
|
|
|
|
|
|
| Key ratios
(%) |
|
|
|
|
|
|
| Revenue Growth
Rate |
|
|
(10.9) |
12.2 |
|
|
| Gross
Margin |
|
|
23.4 |
23.8 |
|
|
| EBITDA
Margin |
|
|
5.5 |
8.7 |
|
|
| EBT
Margin |
|
|
2.7 |
5.9 |
|
|
Revenue
AO gained market shares within repair and
maintenance in the B2B segment. In the B2B segment project sales
were under pressure from low market activity and price competition.
The B2C segment posted positive growth rates for the second quarter
in a row. There are indications that the B2C segment has returned
to the growth trend seen before COVID-19 lock downs. The Q1 revenue
was DKK 1,251m.
EBITDA
EBITDA amounted to DKK 68m, equivalent to an
EBITDA margin of 5.5%.
EBT
EBT amounted to DKK 34m, corresponding to a
margin of 2.7%.
Guidance for 2024
Revenue for 2024 is expected to be in the range
of DKK 5,000 to 5,200m.
EBITDA is expected to be in the range of DKK 340 to 370m.
Profit before tax (EBT) is expected to be in the range of DKK 200
to 230m.
Reference is made to the financial outlook assumptions outlined in
the annual report.
Webcast
The Interim Report for Q1 2024 will be presented
in English via webcast on April 25, 2024, at 13:00 CET. It is
possible to participate in the webcast from the Investor Relations
page on AO.dk or from the link below:
Brødrene A&O Johansen A/S | Interim Report
Q1 2024 (eventcdn.net)
For further information, please contact:
CEO Niels A. Johansen
CFO/Deputy CEO Per Toelstang
Brødrene A & O Johansen A/S
Rørvang 3
DK- 2620 Albertslund
Denmark
Tel.: +45 70 28 00 00
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