Interim report – third quarter of 2023

Tuesday, Schouw & Co. released its interim report for the third quarter of 2023; This was a very good third quarter with a significant revenue improvement. Reported EBITDA improved by relatively more than revenue, which had not been expected. Cash flows from operations for the quarter sharply improved.

Highlights

• Revenue up by 15% for the quarter to DKK 10.5bn
• EBITDA up by 34% to DKK 909m
• Strong cash flows from operations of DKK 1,490m
• ROIC excluding goodwill improved to 12.4%
• Full-year EBITDA guidance raised.

Statement by Jens Bjerg Sørensen, President of Schouw & Co.

– The third quarter were in many ways the best ever in Schouw & Co.’s 145-year history. We delivered both revenue and EBITDA at an all-time high, and the companies of the Schouw & Co. Group performed very well across the board and in several respects also better than expected.

Our portfolio companies are generating solid cash flows of DKK 1.5 billion, and we have reduced our financial gearing considerably. Following a successful refinancing of a part of our debt, Schouw & Co. is in a strong position financially.

The solid momentum we enjoyed in the third quarter has made us raise our full-year EBITDA guidance.

Video conference call (in English) in relation to the interim report

• Tuesday, 14 November 2023 at 15:30 CEST

Please attend via this link: www.schouw.dk/en/investors/conference-call

Aktieselskabet Schouw & Co.

Jørgen Dencker Wisborg, Chairman
Jens Bjerg Sørensen, President, tel. +45 8611 2222

Attachment

• 2023Q3 Delårsrapport ENG