Unchanged financial guidance for 2013/14 and relocation to Polish warehouse on track
In accordance with regulations for listed companies SmartGuy Group A/S hereby publishes a Quarterly Interim Statement for the period July to September 2013.
The development in the quarter was characterized by continued strong competition.
The relocation of the central warehouse from Denmark to Poland is on schedule and is expected to result in annual savings of DKK 25 mill. with effect from the beginning of the calendar year 2014.
During the quarterly period the company has initiated a comprehensive strengthening and investment in the sales and marketing organization.
There have been no other events or transactions that have materially affected the SmartGuy Group A/S financial position compared to the published Annual report.
The guidance for full-year growth and annual EBITDA results before special items is maintained unchanged.
For the financial year 2013/14, management expects that the Group will realize a turnover of DKK 520-545 mill. with EBITDA before special items in the range of DKK 10-20 mill.
Special items (related to the relocation of the warehouse to Poland) are expected to amount to DKK 15 mill. in 2013/14.
On October 31, 2013 the company announced a conditional private placement share issue and share transaction agreements with Aktieselskabet af 14. oktober 2012 (Bestseller) which will result in Bestseller obtaining an ownership interest in SmartGuy Group A/S exceeding 25%. The agreed subscription of new shares and transactions with existing shares are subject to approval by the competition authorities in Austria. This approval process is progressing as planned.
Questions regarding this announcement may be addressed to Nicolai Kærgaard, CEO, on mobile tel.: +45 26 22 99 11 or to Marc Jeilman, CFO, on mobile tel.: +45 20 35 25 80.
SmartGuy Group A/S
