The conglomerate shows its strength in 2020
Highlights
Realised in 2020
- A highly unusual year with increased volume sales and a strong EBITDA improvement. Solid cash flows from operations and sharply reduced debt along with successful capitalisation of business opportunities.
- Revenue rose by 2% to
DKK 21,273 million (2019:DKK 20,946 million ) - EBITDA rose by 13% to
DKK 2,209 million (2019:DKK 1,951 million ) - Cash flow from operating activities improved by 63% to
DKK 2,296 million (2019:DKK 1,410 million ) - ROIC excl. goodwill was 15.3 % (2019: 12.3%)
- Proposal that the dividend for the 2020 financial year remain at
DKK 14 per share.
Outlook for 2021
- Guidance for higher revenue and for EBITDA to remain high.
- Business activity is expected to remain at a high level, and increased investments to be made during the year will provide the basis for additional growth. The coronavirus remains a part of everyday life, but the Group’s businesses stand well prepared for the changing market conditions.
- For 2021, we expect consolidated revenue of about
DKK 21.9 billion and EBITDA in the range ofDKK 2,015-2,225 million .
Briefly on the development of the companies in 2020
Fibertex Personal Care
Fibertex Personal Care reported good financial results and maintained large cash inflows from operations. The company increased its volume sales, but lower selling prices resulting from lower prices of raw materials and lower exchange rates led to a drop in revenue. New production capacity is underway in
GPV
GPV reported a strong earnings improvement in an otherwise challenging year. A surge in volume sales to selected segments, mainly to MedTech, offset slumping trends in other segments. Full-year EBITDA better than expected.
HydraSpecma
HydraSpecma closed out a challenging year on a strong note in the fourth quarter, increasing sales of products for the vehicles segment and retaining strong sales of solutions for wind turbines and other stationary equipment. As a result, the full-year EBITDA was better than expected.
Statement by
“Our basic mantra at
The culture at
As in many other years, openness to change and business acumen were key at
The strength of our conglomerate becomes clear in times of global turbulence and uncertainty. Our six portfolio businesses give us significant risk diversification, both geographically and in terms of the industries they operate in.
Schouw & Co.’s strategy and business model are unchanged and very clear. We develop and transform a diversified portfolio of leading B2B businesses through long-term, inspiring and responsible ownership. Our long-term focus remains the cornerstone of our Group, but we never forget that solid day-to-day operations are the foundations of profitability.
Over the past few years, we have upgraded our ESG reporting on environmental, social and governance issues. To complement our annual report, we also publish an ESG report, in which we comment on many of our initiatives and non-financial performance indicators. Our businesses managed to reduce their relative energy consumption and had fewer lost-time injuries in virtually every year from 2016 to 2020. We own a number of businesses where an increased focus on ESG will create additional value.”
Jørn Ankær Thomsen, Chairman
Jens Bjerg Sørensen, President
FRIDAY,
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Questions relating to the above should be directed to
Attachments
- Cover letter Annual Report
- Annual Report 2020 ENG
- ESG Report 2020 ENG
- Investor Presentation 2020 Annual Report
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