In This Article:
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Revenue: Decreased 7% to DKK34.7 billion.
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EBITDA: Increased 3% to DKK2.93 billion.
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Cash Flow from Operations: Up 44% to DKK2.5 billion.
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Net Working Capital: Reduced to DKK6.77 billion.
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Net Debt: Decreased with leverage well below 2% on EBITDA.
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Investment Level: DKK685 million.
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Dividend and Share Buyback: DKK644 million.
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BioMar Revenue: Down 70% to DKK16.6 billion.
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BioMar EBITDA: Up 18% to DKK1.47 billion.
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BioMar Cash Flow: DKK1.6 billion.
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GPV Revenue: Down 15% to DKK8.9 billion.
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GPV EBITDA: Down 16% to DKK625 million.
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HydraSpecma Revenue: Up 2% to DKK3.0 billion.
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HydraSpecma EBITDA: Up 5% to DKK339 million.
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BORG Revenue: Up 5% to DKK2 billion.
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BORG EBITDA: Up 11% to DKK171 million.
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Fibertex Personal Care Revenue: Flat at DKK1.9 billion.
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Fibertex Personal Care EBITDA: Down 29% to DKK187 million.
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Fibertex Nonwovens Revenue: Up 4% to DKK2.2 billion.
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Fibertex Nonwovens EBITDA: Up 15% to DKK194 million.
Release Date: March 06, 2025
For the complete transcript of the earnings call, please refer to the full earnings call transcript.
Positive Points
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Schouw & Co AS (FRA:5RF) achieved a record high EBITDA of DKK2.93 billion, up 3% from the previous year.
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The company reported an all-time high cash flow from operations, increasing by 44% to DKK2.5 billion.
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BioMar, the largest company in Schouw & Co's portfolio, delivered a strong EBITDA growth of 18% to DKK1.47 billion.
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HydraSpecma achieved a milestone by surpassing DKK3 billion in turnover, with a 5% increase in EBITDA.
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Fibertex Nonwovens reported a 15% increase in EBITDA, driven by strong performance in European markets.
Negative Points
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Overall revenue for Schouw & Co AS (FRA:5RF) decreased by 7% to DKK34.7 billion in 2024.
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BioMar's top line was down 70% to DKK16.6 billion, despite strong EBITDA performance.
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GPV experienced a 15% decline in revenue and a 16% drop in EBITDA due to volatile markets and soft demand.
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Fibertex Personal Care faced challenges in Asian markets, resulting in a 29% decrease in EBITDA.
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BORG struggled with significant salary increases in Poland, impacting its ability to offset costs through pricing.
Q & A Highlights
Q: Can you provide an update on the potential IPO of BioMar and any expected timeline for a decision? A: We are still investigating and working hard on it. A decision could only be made in the second half of 2025 if we proceed. We are getting closer to a decision, but no specific dates can be confirmed at this time. - Jens Bjerg Soerensen, CEO
Q: BioMar delivered strong performance in 2024 with an EBITDA margin at the upper end of your long-term ambition. Is this range still considered sustainable? A: Yes, we believe the current range is sustainable long-term. The market fluctuates, and factors like market mix and product mix play a role. We maintain a good position and expect to continue within this range. - Jens Bjerg Soerensen, CEO