Guidance (outlook) 2020/21

To Nasdaq Copenhagen A/S

Public announcement no. 477

June 26, 2020

TRADING UPDATE AND GUIDANCE FOR GLUNZ & JENSEN HOLDING A/S FOR THE FISCAL YEAR 2020/21

 At current trading, the market demand in Q1 2020/21 (April through June) for the Group’s products have been affected by COVID-19 and measures implemented across the world to contain the virus. Also, delivery of products against firm orders has been difficult, further postponing revenues. Demand, however, seems to be trending up after ease of lockdowns and delivery is normalizing.

For fiscal 2020/21, Group revenue is expected to be at the DKK 150-160 million level, while operating profit (EBITDA) – excluding non-recurring items and fair value adjustments on investment properties – is expected at the DKK 15 million level. This outlook assumes that demand and delivery is not significantly affected by a second wave of COVID-19 outbreak, and Management underlines that the guidance for the fiscal year 2020/21 is associated with a substantial uncertainty as economies – and hence industrial demand - are still impacted by COVID-19.

  

For further information:

CEO Martin Overgaard Hansen, phone

Chairman of the Board of Directors Flemming Nyenstad Enevoldsen, phone

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