Egetæpper A/S
Annual Report Notification for the accounting year 1 May 2012 – 30 April 2013

Egetæpper A/S 

28.06.2013 13:24
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Annual report 2012/13

The board of directors has today approved the annual report for 2012/13 for
egetæpper a/s. The annual report 2012/13 has the following main items: 



Accounting report

The result before taxation amounts to 48.2 DKK million which is in line with
our expectations at the beginning of the year. 

Financial highlights:

  -- The group turnover amounts to 782 DKK million, which is an increase of 29
     DKK million or 4% compared to last year.
  -- Result before financial items and taxation amounts to 54.5 DKK million
     equal to a EBIT-margin on 7%
  -- Result before taxation amounts to 48.2 DKK million, a decrease of 6.5 DKK
     million compared to last year. Adjusted for nonrecurring costs related to
     the factory closure in Vejle the result is on the same level as 2011/12
  -- The group's result amounts to 34.4 DKK million against 37.3 DKK million
     last year
  -- Dividend is recommended fixed at 13.3 DKK million equal to 40% of the
     group's net result after taxation and
dividend to minority shareholders. Dividend is paid in accordance with new
     dividend policy published 7 August 2012
  -- The net investments in long-term assets during the year amount to 41 DKK
     million.
  -- Interest-bearing net liabilities have been reduced by 21.6 DKK million
     compared to last year. Investments of the year have mainly been financed by
     cash flows from operating activities.
  -- Cash flows from operations amount to 75 DKK million



Prospects

2013/14:

The financial crisis still has an impact on the construction industry in a
number of European countries. The activity level on the Danish market, being
our biggest market, is unchanged and on a low level. Among the important export
markets we expect ongoing growth in England, Germany, Norway, Sweden and the
Middle East. The French market has turned out being especially difficult the
past year but we expect the direction to turn in the year to come, however on a
minor level. Furthermore we work determinedly to expand our formation in Asia. 

Our expectations to 2013/14 are:

  -- A turnover of 800-850 DKK million
  -- An EBIT-margin of 7-8%
  -- A result before taxation of approx. 50-60 DKK million
  -- A cash flow from operations of approx. 75-85 DKK million
  -- Investments in long-term assets of approx. 40-50 DKK million

We want to stress that it is still very difficult to predict how the market
situation will develop over the next year. 


The Annual General Meeting

The Annual General Meeting to be held on Friday 30 August 2013.

  -- Based on the parent company's dividend policy the board of directors
     recommends that dividend is fixed at 40% of the group's net result after
     taxation and dividend to minority shareholders equal to5,08 DKK per share
     nominal 10 DKK or 13.3 DKK million.

  -- The Board of directors recommends that the ordinary fee to each board
     member in the accounting year 2013/14 is changed from 90 t.DKK to 100
     t.DKK. The chairman and the deputy chairman of the board will continue
     receiving a bonus to their ordinary fee, respectively 1.5 and 0.5 times the
     ordinary fee to board members. If a board member attends a committee he or
     she will receive a bonus of 50 t.DKK.
The group's compensation policy will be adjusted accordingly.

  -- The Board of directors also recommends that the Board of directors is
     authorised to acquire own shares up to nominal 5.0 DKK million. The
     authorisation is provided until the Annual General Meeting next year.



Contacts :

Mr. John Vestergaard, CFO                        Mr. Svend Aage Færch Nielsen,
CEO 

Tel: +45 97118811                                   Tel: +45 97118811



egetæpper a/s

Herning, 28 June 2013
News Source: NASDAQ OMX



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Language:     English
Company:      Egetæpper A/S
              
               
              Denmark
Phone:        
Fax:          
E-mail:       
Internet:     
ISIN:         DK0010259290
WKN:          
 
End of Announcement                             DGAP News-Service
 
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