Dantherm
Interim report for Q1 2015

DGAP-News: Dantherm

2015-04-29 / 14:19

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Skive, Denmark, 2015-04-29 14:19 CEST (GLOBE NEWSWIRE) -- 

Dantherm posted revenue of DKK 93m for Q1 2015 compared with DKK 100m for Q1
2014. An operating loss (EBIT) of DKK 6.1m (Q1 2014: DKK -18.3m) was posted,
negatively impacted by DKK 6.2m (Q1 2014: DKK -13.8m) from the Telecom segment.
As announced in 2014, an agreement on the divestment of the Telecom segment has
been signed. Closing has not yet been completed. The outlook for the year as a
whole is reaffirmed. 

Torben Duer, President & CEO:

'Overall, Dantherm's operating results for Q1 2015 were unsatisfactory,
primarily due to the loss-making Telecom business. The HVAC business posted
better results for Q1 2015 than in 2014, among other things due to the cost
cuts implemented. The start to the year is traditionally characterised by low
levels of activity, and increasing levels of activity are expected for the rest
of the year.' 

Agreement on divestment of Telecom business segment

  -- As reported in company announcement no. 3 of 24 March 2014, Dantherm has
     entered into an agreement on the divestment of the Telecom business
     segment. Contrary to expectations, the buyer has not yet been able to
     complete the transaction, and the criteria for classifying the Telecom
     business as a discontinuing activity are therefore not deemed to have been
     fulfilled even though the transaction is still expected to go ahead.

Financing and capital structure

  -- As announced in company announcement no. 2 of 27 March 2015, in March
     Dantherm renegotiated its agreement on committed facilities with the
     primary credit institutions. The credit institutions have undertaken to
     extend the committed facilities until January 2016. With the current
     operating conditions and the agreed committed facilities, cash management
     has a high priority in the dialogue with the primary credit institutions.
  -- The Dantherm management will continue to assess the potential for further
     strengthening Dantherm's capital base.

Development in Q1 2015

  -- Revenue totalled DKK 93m relative to DKK 100m in Q1 2014.
  -- An operating loss (EBIT) of DKK 6.1m (Q1 2014: DKK -18.3m was posted),
     negatively impacted by DKK 6.2m (Q1 2014: DKK -13.8m) from the Telecom
     segment.

Outlook for 2015

Dantherm is reaffirming the outlook for 2015 of an improved operating profit
(EBIT) of approx. DKK 5-10m based on the same level of revenue as in 2014. 

The outlook for 2015 is based on the divestment of the Telecom business going
ahead. If, contrary to expectations, the transaction is not completed, the
operating profit (EBIT) outlook before any impairment of goodwill is unchanged. 



Any enquiries concerning this announcement can be directed to President & CEO
Torben Duer on tel. +45 99 14 90 14.
News Source: NASDAQ OMX



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2015-04-29 Dissemination of a Corporate News, transmitted by DGAP - a
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Language:    English       
Company:     Dantherm      
 
 
             Denmark       
ISIN:        DK0010223692  
 
 
End of News    DGAP News-Service  
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350631 2015-04-29