0HY9 Gabriel Holding A/s

Gabriel Holding A/S – first quarter of the 2023/24 financial year

Summary:

Gabriel Holding maintains its expectations for the financial year after a first quarter with revenue and earnings realised at the upper end of the range of expectations.

Selected financial ratios and comments:

• Growth was realised in the Group’s global fabric business in the quarter. As expected, there was a small decrease in revenue from the furniture upholstery units (FurnMaster)
• The Group’s total revenue was DKK 227.7 million (DKK 241.6 million) which was at the upper end of the range of expectations
• The expectations for the 2023/24 financial year are maintained after the first quarter
• Earnings before depreciation, amortisation and impairment losses (EBITDA) were realised at DKK 15.9 million (DKK 19.8 million)
• Operating profit (EBIT) was DKK 3.2 million (DKK 8.1 million)
• The result before tax was DKK -3.0 million (DKK 3.7 million)
• Cash flows from operating activities in the period were positive at DKK 26.6 million (DKK 2.0 million)
• EBITDA margin was 7.0% (8.2%)
• EBIT margin was 1.4% (3.4%)
• Return on invested capital (ROIC) was 2.3% (6.1%)

Expectations for the full year 2023/24

Management expects that revenue will be of the order of DKK 850 – 900 million and operating profit (EBIT) of the order of DKK 0 – 10 million, that finance income and costs will continue to be negative in 2023/24 and anticipates a negative result before tax but a positive cash flow.

Attachment

• Gabriel Holding AS - Announcement no . 1_ Q1 2023-24