Interim report – second quarter of 2023
Tuesday, Schouw & Co. released its interim report for the second quarter of 2023; Good quarterly performance generally producing the improvements expected in light of the completed acquisitions along with higher selling prices balancing out increased costs. Revenue increase coupled with EBITDA improvement.
Highlights
- Revenue up by 23% for the quarter to DKK 9.2bn
- EBITDA up by 18% to DKK 666m
- Higher interest expenses sharpen focus on efficient use of capital
- Full-year revenue and EBITDA guidance raised.
Statement by Jens Bjerg Sørensen, President of Schouw & Co.
– In the second quarter, we saw a distinct effect of acquisitions made, and both revenue and EBITDA are improving. We take a positive view on the rest of 2023 and are raising our full-year EBITDA guidance.
Our debt has increased through a number of strategic investments for acquisitions, capacity expansion and for increasing inventories. Our full-year revenue has risen by more than 40% over the past 18 months, and the significant growth has required stable and strong capital resources.
Efficient use of capital is a key focus for all our businesses, and relative to revenue we reduced our working capital once again this past quarter. At the same time, we have major investments for new capacity acquisitions that are not yet operational and which therefore have not contributed to our financial results. Accordingly, we expect to improve the return on invested capital over the coming quarters.
Video conference call (in English) in relation to the interim report
- Tuesday, 15 August 2023 at 15:30 CEST
Please attend via this link: www.schouw.dk/en/investors/conference-call
Aktieselskabet Schouw & Co.
Jørgen Dencker Wisborg, Chairman
Jens Bjerg Sørensen, President, tel. +45 8611 2222
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