Friday, Schouw & Co. released its interim report for the second quarter of 2018. Consolidated revenue was up by 10% and EBITDA improved by 12%. According to company announcement of 10 August 2018, full-year EBITDA guidance is lowered to a range of DKK 1,580-1,700 million.
Highlights
Statement by Jens Bjerg Sørensen, President of Schouw & Co.
"During the second quarter of 2018, Schouw & Co. achieved good revenue improvements that were mainly driven by larger volumes sold and by BioMar’s entry to the Ecuadorian shrimp feed market. Earningswise, we achieved a relatively similar EBITDA improvement in spite of more competitive markets and generally challenging developments in prices of components and raw materials.
The segments that our companies are involved in generally continue to see good momentum. Unfortunately, we have had to lower our overall guidance for 2018 due to the outcome of contract negotiations in Norway and a weaker activity among larger customers served by Fibertex Personal Care in Malaysia. We will now focus on profitability and generating of cash flow, and over time we are expecting new volume growth."
Conference call (in English) in relation to the interim report
Aktieselskabet Schouw & Co.
Jørn Ankær Thomsen, Chairman
Jens Bjerg Sørensen, President, tel. +45 8611 2222
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