Scandinavian Brake Systems A/S Reports Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended September 30, 2014; Revises Earnings Guidance for the Year of 2014
For the nine months, revenue was DKK 835 million against DKK 814.3 million a year ago. Operating profit before depreciation was DKK 68.7 million against DKK 63.2 million a year ago. Operating profit (EBIT) was DKK 56.8 million against DKK 51.2 million a year ago. Pre-tax profit was DKK 20 million against DKK 7.3 million a year ago. Cash used in operating activities (continuing operations) was DKK 56.1 million against cash flows from operating activities (continuing operations) of DKK 20.2 million a year ago. Net profit after tax was DKK 20.0 million or DKK 6.2 per basic and diluted share against DKK 7.3 million or DKK 2.3 per basic and diluted share a year ago. Return on invested capital was 13.7% against 10.5% a year ago. Book value per share was negative DKK 21.2 against DKK 26.1 a year ago.
The Group expects for 2014 revenue of around DKK 1,000 to 1,020 million against previously announced DKK 940 to 1,040 million and EBITDA of DKK 125-135 million including profit from the transaction against the previously announced DKK 140-150 million. The adjustment is primarily due to direct or indirect impact from the successful sale of the brake caliper production.