0HY9 Gabriel Holding A/s

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

Summary:

First half-year better than expected at Gabriel Holding A/S as a result of growth in the Group’s global fabric business.

Selected financial highlights and comments:

• The Group achieved growth in its global fabric business in the half-year, in particular in the business units Gabriel Fabrics and SampleMaster. As expected, revenue from the furniture upholstery units (FurnMaster) was lower
• The Group’s total revenue was DKK 469.0 million (DKK 492.0 million)
• Earnings before depreciation, amortisation and impairment losses (EBITDA) were DKK 35.0 million (DKK 44.5 million)
• Operating profit (EBIT) was DKK 10.5 million (DKK 21.2 million)
• Profit before tax was DKK 1.2 million (DKK 13.4 million)
• Cash flows from operating activities in the period were positive at DKK 17.7 million (DKK -3.3 million)
• EBITDA margin was 7.5% (9.0%)
• EBIT margin was 2.2% (4.3%)
• Return on invested capital (ROIC) was 3.6% (4.9%)
  
  

Expectations for the full year 2023/24

Following the upward adjustment on 15 April 2024, management expects that revenue will be DKK 880 – 930 million and operating profit (EBIT) DKK 8 – 15 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.

A high level of uncertainty still surrounds the expectations for the year, primarily as a result of the continued geopolitical challenges and since the international demand is challenged by risks relating to inflation and interest rate development.

Attachment

• Gabriel Holding AS - Announcement no 6 - First half of the 2023 24 financial year