Interim report for Dantherm A/S for Q3 2013 Skive,

Skive, Denmark, 2013-10-30 09:09 CET (GLOBE NEWSWIRE) --  

Dantherm realised revenue of DKK 356m in the first three quarters of 2013, on par with the same period of 2012. An operating profit (EBIT) of DKK 2.0m was posted against an operating profit of DKK 2.9m in the first nine months of 2012. Activities are expected to increase in Q4 2013. Relative to 2012, revenue and EBIT for 2013 as a whole are expected to increase, however, not to the extent previously announced.

President & CEO Torben Duer says:

”The volume of orders for Q4 indicates a significant increase in activities for the rest of the year, for which reason both revenue and earnings for 2013 are expected to increase relative to 2012. The first three quarters did not generate the expected results, due to lower sales within the HVAC business area of mobile heating and cooling, which generated high sales in 2012, and postponed projects within the business area of Telecom network operators in both Europe and China.

Development in Q3 2013

• Revenue was DKK 117m relative to DKK 131m in Q3 2012. Revenue within HVAC was 18 % lower, whereas revenue within Telecom increased by 5 % relative to the same period of 2012.
• An operating loss (EBIT) of DKK 0.4m was posted against an operating profit of DKK 5.7m in Q3 2012.

Development in the first nine months of 2013

• Revenue was DKK 356m against DKK 364m in the first nine months of 2012. Revenue within HVAC was 13 % lower, whereas revenue within Telecom increased by 20 %.
• An operating profit (EBIT) of DKK 2.0m was posted against an operating profit of DKK 2.9m in the same period of 2012.

Unsolicited indication of interest from potential buyer of Dantherm A/S

• As mentioned in company announcement no. 13 of 16. October 2013, Dantherm has received an unsolicited indication of interest from a potential buyer of the company. Based on this, the Board of Directors has decided to initiate an analysis in order to evaluate the enquiry in the best possible way. The analysis will be included in the Board of Directors’ evaluation of Dantherm’s strategic options of strengthening the business development and capital foundation of the company.

Outlook for 2013

• For 2013, Dantherm expects total revenue of approx. DKK 500m and an operating result (EBIT) of DKK 5-10m against previously announced expectations of revenue of DKK 525-550m and an operating result (EBIT) of DKK 15-20m. The lower revenue and earnings are due to postponed projects within the business area of Telecom network operators, which were expected in the second half of 2013.
• Costs related to the analysis initiated by the Board of Directors, mentioned in company announcement no. 13 of 16 October 2013, are not included in the expected operating result (EBIT).

Any enquiries concerning this announcement can be directed at CEO Torben Duer on tel.: +45 99 14 90 14.

In case of doubt, the Danish version of this announcement is applicable.