Dantherm
Revised financial calendar 2015

DGAP-News: Dantherm

2015-02-26 / 16:51

---------------------------------------------------------------------

Skive, Denmark, 2015-02-26 16:51 CET (GLOBE NEWSWIRE) -- 

Revised financial calendar for 2015

As reported in company announcement no. 3 of 24 March 2014, on that day
Dantherm entered into an agreement on the divestment of the Telecom business
segment to China Technologies Holdings Group Co., Ltd. (Hong Kong).  Closing
has taken significantly longer than originally assumed by the parties due to
the extraordinary consideration of the matter by the Chinese authorities and
the credit approval process in China; closing is expected to be completed in
the course of March 2015. 

As a result, publication of the annual report for 2014 and the annual general
meeting are being postponed, and the financial calendar for 2015 has been
amended as follows: 



Annual report 2014                            27 March 2015              
General meeting                               29 April 2015              
Interim report 1 January - 31 March 2015      29 April 2015 (unchanged)  
Interim report 1 January - 30 June 2015       19 August 2015 (unchanged) 
Interim report 1 January - 30 September 2015  28 October 2015 (unchanged)



Unaudited figures for 2014

Revenue for the continuing operations amounted to DKK 306m compared with DKK
326m in 2013. 

An operating profit (EBIT) of DKK 2.0m was posted for the continuing operations
compared with DKK 5.9m in 2013. The operating profit for 2014 is negatively
impacted by severance payments of DKK 3.0m. Revenue and operating profit (EBIT)
were thus slightly better than the most recently announced outlook of revenue
of approx. DKK 300m and an operating profit (EBIT) of approx. DKK 0m. 

Net loss for the year amounted to DKK 28.5m (2013: DKK -28.0m) of which DKK
17.4m was related to loss from discontinued operations. Total assets end of
2014 amounted to DKK 405.2m (2013: DKK 404.5m) and equity amounted to DKK 59.6m
(2013: DKK 86.6m). 

Financial affairs

As announced previously, Dantherm will - in connection with closing - repay the
operational financing under the committed facilities with the credit
institutions, and the net interest-bearing debt is expected to be reduced to
approx. DKK 80m (end of 2014: DKK 209m), relating primarily to property
financing in Denmark and Norway. 

Dantherm is in close dialogue with its primary banks on an extension of the
current two-year committed facilities which expire on 31 March 2015 until
January 2016 in the event that, contrary to expectations, closing is not
completed in March. The scope for further strengthening Dantherm's capital base
will be subject to continuous assessment and is considered as part of the
negotiations on the extension. Due to the delayed closing, Dantherm has been
unable to comply with the usual covenants for the existing financing, an issue
which has also been addressed as part of the above-mentioned close discussions. 



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



---------------------------------------------------------------------

2015-02-26 Dissemination of a Corporate News, transmitted by DGAP - a
service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

The DGAP Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de

---------------------------------------------------------------------


Language:    English       
Company:     Dantherm      
 
 
             Denmark       
ISIN:        DK0010223692  
 
 
End of News    DGAP News-Service  
---------------------------------------------------------------------  
327485 2015-02-26