Annual Report 2015/16 and interim report for Q4 2015/16
RTX INCREASES REVENUE AND EBIT
The Supervisory Board of RTX A/S has today considered and adopted the Group’s interim report for the fourth quarter of the 2015/16 financial year (covering the period 01.07.2016 – 30.09.2016).
SUMMARY OF THE FINANCIAL YEAR 2015/16 FOR THE RTX GROUP
- In 2015/16 net revenue amounted to DKK 395.6 million corresponding to an increase of 13.2% compared to last year’s net revenue of DKK 349.5 million. Growth over the year was positively affected by the exchange rate for USD, and at the same time it was negatively affected by the ceased income from lease, as the premises was sold in January 2016. Adjusted for the mentioned effects, revenue growth was 10.5%. Revenue apportioned across RTX’s business units was as follows:
- Business Communications rose by DKK 32.4 million corresponding to an increase of 13.8% (after exchange effect 9.2%).
- Design Services increased revenue by DKK 16.1 million corresponding to an increase of 14.6% (after exchange effect 13.3%).
- The Group’s gross profit increased from DKK 196.2 million to DKK 229.4 million and as a consequence of the revenue mix, the Group’s gross margin increased from 56.1% to 58.0%.
- The increased demand for RTX’s competencies made it necessary to increase staff considerably during the financial year. Thus there were 51 more employees at the end of 2015/16 compared to last year. After the sale of the premises, the capacity costs include increased external lease costs. These are the two main reasons for capacity costs that are 14.7% higher than last year.
- With reference to announcement no. 56/2016 RTX will invest in the development of a new product range complementing the company’s existing communication solutions. These investments caused a capitalisation of DKK 1.0 million in 2015/16. The investment continues in 2016/17.
- Operating profit (EBIT) totalled DKK 65.8 million compared to DKK 52.3 million last year corresponding to a growth of 25.8%.
- Result after tax amounted to DKK 49.5 million compared to DKK 48.9 million last year.
- The Group’s cash flow from operating activities was DKK 57.2 million compared to DKK 53.2 million for the same period last year.
- In the financial year 2015/16 RTX paid DKK 44.9 million for dividends and share repurchase programmes.
- At the Annual General Meeting in January 2017, the Supervisory Board will recommend a dividend of DKK 2.00 per share to the shareholders, an authorisation to acquire treasury shares for an amount up to DKK 60.0 million, and at the same time recommend a reduction of the company’s share capital by nominal DKK 1.5 million by annulment of 290,000 treasury shares.
FUTURE OUTLOOK 2016/17
- Management expects revenue to range between DKK 420-435 million, EBIT between DKK 68-75 million and EBITDA between DKK 73-80 million for the financial year 2016/17. The expectations are based on relatively stable exchange rates at the same level as in October 2016.
SUMMARY FOR THE FOURTH QUARTER OF 2015/16 FOR THE RTX GROUP
- Net revenue amounted to DKK 96.7 million in the fourth quarter of 2015/16 corresponding to an increase of 13.7% compared to last year’s revenue of DKK 85.1 million. Growth in the quarter was negatively affected by the exchange rate for USD and the ceased income from lease after the sale of the premises in January. Adjusted for these effects, the growth in revenue was 15.2%. Revenue apportioned across RTX’s business units was as follows:
- Business Communications increased by DKK 6.7 million corresponding to an increase of 11.6% (after exchange effect 12.1%).
- Design Services increased revenue by DKK 5.8 million corresponding to an increase of 21.7% (after exchange effect 21.9%).• The Group’s gross profit increased from DKK 48.1 million to DKK 51.9 million and as a consequence of the revenue mix, the Group’s gross margin decreased from 56.5% to 53.7%.
- Costs for external lease have increased, and staff increased due to the higher activity level. These are the main reasons for higher capacity costs.
- Operating profit (EBIT) totalled DKK 13.1 million compared to DKK 10.6 million last year corresponding to a growth of 24.0%.
- Result after tax amounted to DKK 7.4 million compared to DKK 6.8 million last year corresponding to an increase of 9.4%.
- The Group’s cash flow from operating activities for the fourth quarter was DKK 14.7 million compared to DKK 13.2 million for the same period last year.
RTX A/S
Peter Thostrup Chairman
Peter Røpke CEO
