Scandinavian Brake Systems A/S Reports Unaudited Earnings Results for the Second Quarter and Six Months Ended June 30, 2014; Provides Earnings Guidance for the Full Year 2014
For the six months, the company reported revenue of DKK 561.2 million against DKK 535.5 million a year ago. Operating profit or loss before depreciations was DKK 45.2 million against DKK 40.4 million a year ago. Operating profit was DKK 37.2 million against DKK 32.4 million a year ago. Pre-tax profit from continuing operations was DKK 23.1 million against DKK 16.2 million a year ago. Net profit was DKK 11.4 million against DKK 3.5 million a year ago. Negative cash flow from operations was DKK 68.3 million against cash flow from operations of DKK 40.1 million a year ago. As on date, book value per share was DKK 24.4 against DKK 26.9 per share a year ago. Total cash flow was DKK 0.2million.
For 2014, the group still expects turnover to be around DKK 1,000-1,100 million and EBITDA to be around DKK 75-85 million for continuing operations.