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Annual report 2020/21

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To Nasdaq OMX Copenhagen A/S

Public announcement no. 495
June 8, 2021

ANNUAL REPORT FOR GLUNZ & JENSEN HOLDING A/S FOR THE FISCAL YEAR 2020/21 AND EXPECTATIONS FOR THE FISCAL YEAR 2021/22

The annual report for the fiscal year 2020/21 was reviewed and approved at the Board of Directors meeting today. The Board of Directors are satisfied with the achievements in the turnaround and with the results - and announces the following consolidated financial statements for 2020/21 set for approval at the Annual General Meeting on June 30, 2021.

The annual report has the following key figures:

The Group realized a revenue of DKK 136,9 million (2019/20: DKK 195,6 million).

Gross profit totaled DKK 28,4 million (2019/20: DKK 35,3 million), equal to a gross profit margin of 20,7% (2019/20: 18,0%).

EBITDA before impairment of assets and before non-recurring items – and excluding the fair value adjustment on property – was DKK 19,0 million (2019/20: DKK 14,9 million).

EBITDA was DKK 19,6 million (2019/20: DKK 1,7 million).

Profit for the year totaled DKK 0,9 million (2019/20: a loss of DKK 18,4 million), equal to a profit in earnings per share (EPS) of DKK 0,5 per share in 2020/21 (2019/20: a loss of DKK 10,1 per share).

Glunz & Jensen and the global prepress market in general was impacted by Covid-19 in 2020/21. Covid-19 related difficulties impacted revenue negatively as travelling and our logistics were restricted and thus, challenged sales and operational efforts. A continued, unpredictable impact is expected in 2021/22.

For fiscal year 2021/22, the Group revenue is expected to be at the DKK 135-145 million level, while operating profit (EBITDA) is expected to increase to a level of DKK 23 million because of the benefits of the turnaround plan. The profit before tax is expected at the DKK 12 million level.

Management underlines that 2021/22 is associated with uncertainty due to the unpredictable impact of the continued Covid-19 outbreak.

For further information:
CEO Martin Overgaard Hansen, phone +4522608405
Chairman of the Board of Directors Flemming Nyenstad Enevoldsen, phone +4540431303

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