Cimber Sterling Group
Interim report for the 2nd quarter of 2011/12 – Cimber Sterling adopts new strategic direction

Cimber Sterling Group 

14.12.2011 08:17

Dissemination of a Adhoc News, transmitted by DGAP - a company of
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The issuer is solely responsible for the content of this announcement.

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                                                        Announcement no. 35/2011
                                                                14 December 2011


Performance for Q2 2011/12 was highly unsatisfactory and underlines a need that
has existed for some time for adopting a new strategic direction for the
Company. The Board of Directors and Executive Board have therefore worked hard
with the Company's majority shareholder to complete a new three-year strategy,
which will be announced in outline today. Concurrently with this, the traffic
programme was adjusted in Q2 2011/12, and cost-saving initiatives were
implemented, which will begin to take effect in the second half of 2011/12. 

Revenue rose 4.8% to DKK 572.6 million in Q2 2011/12, and EBIT was a loss of
DKK 43.1 million, as compared with a loss of DKK 2.2 million in Q2 2010/11. The
negative trend in performance was due to a lower-than-expected level of
activity, and higher costs of fuel and technical maintenance, among other
things. Due to a narrower traffic programme and generally lower demand in Q2
2011/12, the guidance for revenue for the full year is reduced to DKK 2.0
billion (previously: DKK 2.1 billion), and EBIT is now expected to be a loss in
the range of DKK 160-200 million (previously: a loss in the range of DKK 20-60
million). 



For further information please see attached or contact:

Press:
Signe Thorup
E-mail: Signe.Thorup@cimber.dk
Tel: +45 60 29 26 26

Investor relations:
Jan Palmér
E-mail: ir@cimber.dk
Tel: +45 74 12 22 24
News Source: NASDAQ OMX



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Language:     English
Company:      Cimber Sterling Group
              
               
              Denmark
Phone:        
Fax:          
E-mail:       
Internet:     
ISIN:         DK0060196848
WKN:          
 
End of Announcement                             DGAP News-Service
 
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