Interim report – second quarter of 2020

Friday, Schouw & Co. released its interim report for the second quarter of 2020. Solid Q2 performance with strong EBITDA improvement and revenue at prior-year level despite drop in prices of raw materials and the coronavirus situation.

Highlights

• Solid Q2 performance with strong EBITDA improvement
  
• Revenue in line with last year
• Strong improvement in cash flows from operations
• Diversified operations mitigating the effects of coronavirus implications
  
• EBITDA guidance reinstated at original level

Statement by Jens Bjerg Sørensen, President of Schouw & Co.

“Schouw & Co. had a really good second quarter despite the current global uncertainty. The Group overall and four of our six portfolio companies produced their best ever EBITDA for a second quarter. The strength and risk diversification of the conglomerate has indeed proven its worth.
The managements and the employees of our businesses have been prepared for change and have truly taken responsibility for safeguarding the Group’s earnings capacity. We have created an overview and have adapted to a new day-to-day situation. As a result, we are now in a position to reinstate our EBITDA guidance at the same attractive level as we promised the market at the beginning of the year.”

Conference call (in English) in relation to the interim report

• Friday, 14 August 2020 at 14:00 CEST
• Phone number for participants (no pin required): DK: [phone], UK [phone], US: [phone]

Aktieselskabet Schouw & Co.

Jørn Ankær Thomsen, Chairman
Jens Bjerg Sørensen, President, tel. [phone]

The interim report is released in the category inside information in accordance with the requirements of the Danish FSA because suspension of guidance is lifted, and the earnings guidance is resumed on page 5 of the interim report. There is no other information in the interim report that is considered to constitute inside information.

Attachment

• 2020-08-14 Schouw 2020 Q2 ENG