Expected result for second quarter and changed exp

DLH realized growth in the Global Sales in second quarter but weak sales in the European business

On 12 March 2013 the DLH Group announced an expected revenue and EBIT margin in the same level as the realized figures for 2012 in 2013 where sales totaled DKK 2.4 billion and EBIT ended up at DKK 8 million. After first quarter 2013 (15 May) DLH maintained these expectations subject to a positive change in the general activity level.

In second quarter of 2013 DLH has realized a significant growth in its overseas Global Sales markets of 28%. The European stock based business was not favoured by any positive change in the activity level and declined by 16%. For the second quarter DLH realized a revenue of DKK 649 million towards last year’s level of DKK 664 million. The change in revenue mix, where a large part now comes from the Group’s Global Sales back-to-back business, is the most essential cause for the decline by 2 percentage point in the Group’s total gross margin.

It is expected that EBIT for the second quarter amounts to DKK 4 million against last year’s DKK 7 million.

The weak sales in the European business are expected to proceed in second half year whereas the global back-to-back business will continue to develop positively. It is therefore now estimated that the total sales for 2013 reach the level of DKK 2.2 billion and EBIT in the level of minus DKK 30-40 million.

         For further information about this announcement, please contact President & CEO Kent Arentoft on tel: + 45 4350 0101.