GJ Glunz & Jensen Holding

H1, 2024 reporting

H1, 2024 reporting

To Nasdaq OMX Copenhagen A/S

Company announcement no. 559

August 21st, 2024



INTERIM REPORT JANUARY 1ST, 2024 – JUNE 30TH, 2024 (H1 2024)

The H1 2024 report of the fiscal year was reviewed and approved at the Board of Directors meeting.

Highlights

  • The revenue for H1 2024 amounted to DKK 64,9 million (H1 2023: DKK 74,0 million), which is in line with expectations.
  • The gross profit amounted to DKK 15,0 million in H1 2024 (H1 2023: DKK 17,9 million), the gross profit margin was 23,1% (H1 2023: 24,2%).
    • The revenue decline in H1 2024 compared to H1 2023 is due to a weaker than expected revenue in Q1 2024 which was communicated in the company announcement no. 556 on April 18th, 2024. The revenue in Q2, 2024 is at DKK 33,8 million compared to DKK 33,5 million in Q2, 2023.
    • The margin declines last year (full year 2023 at 22,2%) were in part been recovered during H1 2024 and came to 23,1%. The task related to margin improvement is ongoing in H2 2024.
  • EBITDA for the period was DKK 4,1 million (H1 2023: DKK 8,2 million).
  • Profit before tax for the period H1 2024 was DKK 1,0 million (H1 2023: DKK 5,3 million), corresponding to a result per share (EPS) at DKK 0,4 (H1 2023: DKK 2,3).

Glunz & Jensen changed the previously communicated outlook for 2024 on Group on August 21st, 2024; The revenue is expected at approximately DKK 135 million (previous outlook: approximately DKK 148 million), the EBITDA* is expected at approximately DKK 12 million (previous outlook: approximately DKK 18 million) and the Profit before tax* is expected at approximately DKK 5 million (previous outlook: approximately DKK 10 million).

*The outlook for the EBITDA and the Profit before tax is before potential adjustments on fair value on the investment property.

For further information please contact:

CEO Henrik Blegvad Funk: phone

Chairman of the board Flemming Nyenstad Enevoldsen: phone

Attachment



EN
21/08/2024

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