Gabriel Holding A/S – three quarters of the 2021/22 financial year

Summary:

After three quarters Gabriel Holding A/S delivers 39% revenue growth to DKK 812.7 million and operating profit (EBIT) of DKK 60.1 million, an increase of 40%. 

Selected financial ratios:

• Revenue increased by DKK 226 million (39%) to DKK 812.7 million (DKK 586.4 million)
  • Revenue in the third quarter increased by DKK 91.8 million to DKK 289.9 million (DKK 198.1 million), an increase of 46%
  • All business units contributed to the realised growth in the first nine months of the year
• The gross margin was 32.9% (37.9%)
• Operating profit (EBIT) increased by 40% to DKK 60.1 million (DKK 43.0 million)
  • Operating profit (EBIT) in the third quarter increased by 21% to DKK 16.1 million (DKK 13.3 million)
• Net finance income and costs in the period was positive by DKK 7.4 million, compared to an expense of DKK 5.5 million in the same period of the previous year. Currency movement in the period, which is primarily related to intragroup financing of the American subsidiary, is the main reason for this.
• Profit before tax increased by 70% to DKK 68.1 million (DKK 40.0 million)
  • Profit before tax in the third quarter was DKK 21.5 million (DKK 10.9 million)
• Return on invested capital was 18.1% (12.1%)
• Operating margin was 7.4% (7.3%).

Expectations for the 2021/22 financial year:

• In the annual report covering the 2020/21 financial year, management stated that it expected revenue of the order of DKK 890-930 million and operating profit (EBIT) of the order of DKK 64-67 million for the 2021/22 financial year.
• The original expectations have been upwardly adjusted twice during the financial year. After six months, expectations were for revenue of the order of DKK 990-1,020 million (DKK 809.7 million in 2020/21) and operating profit (EBIT) of the order of DKK 73-78 million (DKK 58.6 million in 2020/21).
• After nine months, expectations for the full 2021/22 financial year are for revenue of the order of DKK 1,060 million and operating profit (EBIT) of the order of DKK 73 million.

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