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Interim Financial Report - Second quarter 2019

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Q2 2019 financial performance

The second quarter (Q2) 2019 consolidated financial statement describes the results of the Scan Bidco A/S Group.

  •  The Q2 2019 revenue was DKK 1,026m and increased by 17.3% vs Q2 2018.
  •  The Q2 2019 Gross Profit was DKK 186m and the Gross Margin equals 18.2%.
  •  The Q2 2019 EBITDA before special items amounts to DKK 43m.
  •  The Q2 2019 Adjusted EBITDA (Business performance*) excluding the impact of IFRS 16 Leases amounts to DKK 34m (H1 2019: DKK 63m).

*Business performance represents the underlying financial performance of the Group in the reporting period as results are adjusted for extraordinary items which are not in line with the ordinary course of business and other non-recurring items.

Financial highlights Q2 2019 Q2 2018 1) YTD 2019 YTD 2018 1)
(in DKK thousands)
Income statement
Revenue 1,025,820 874,307 1,985,212 1,715,726
Gross profit 186,249 145,935 355,959 284,426
Earnings before Interest, Tax, Depreciation, Amortisation (EBITDA) and special items 42,615 22,672 82,616 37,876
Earnings Before Interest, Tax, Amortisation (EBITA) and special items 25,317 19,864 49,465 32,593
Operating profit (EBIT) before special items 16,933 13,364 32,737 19,593
Special items -2,755 -1,397 -3,369 -1,757
Operating profit (EBIT) 14,178 11,967 29,368 17,836
Net financial expenses -23,632 -15,104 -33,238 -28,600
Profit/loss before tax -9,454 -3,137 -3,870 -10,764
Profit/loss for the period -13,569 -3,771 -9,731 -13,278
Cash flow
Cash flows from operating activities before special items, interest and tax 3,117 40,323
Cash flows from operating activities -34,291 5,308
Cash flows from investing activities -87,623 -10,933
Free Cash flow -121,914 -5,625
Cash flows from financing activities -44,290 0
Cash flow for the period -166,204 -5,625
1) The 2018 comparison figures are not adjusted to the new accounting standard IFRS 16 Leases 

The full report can be downloaded at https://www.scangl.com/investor/investor-holding/

For further information, please contact:           Allan Melgaard, Group CEO
                                                                         Claes Brønsgaard Pedersen, Group CFO
                                                                         (+45) 32 48 00 00

Scan Bidco A/S discloses the information contained in the interim report pursuant to the EU Market Abuse Regulation (596/2014/EU) and the Swedish Securities Market Act.

The information was submitted for publication by the above-mentioned persons at 21.05 (CET) on 26 August 2019.

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