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Thursday, Schouw & Co. released interim report for the third quarter of 2021; strong revenue performance at 14% advance for the quarter. Solid earnings for the quarter considering the challenging supply situation with high prices of raw materials and surge in freight and energy costs.
Revenue advance in Q3, but EBITDA setback in the quarter
Underlying demand still considered at an attractive level
High prices of raw materials, energy and freight causing challenges
Ability to supply takes priority over short-term optimisation
Guidance maintained for revenue, but lowered for EBITDA
Statement by Jens Bjerg Sørensen, President of Schouw & Co.
“Developments in the third quarter of 2021 and our expectations for the rest of the year are highly reflective of the effects of the turbulent global value chains. Prices of raw materials and other costs are at historical highs, and not least the surging and persistently high costs of energy and freight have produced significant challenges to all of our businesses. As we see no immediate signs of normalisation in the short term, we are doing everything we can to adapt to the current situation.
It is very encouraging to see several of our businesses delivering healthy growth rates and solid results in spite of the global challenges of unstable supply channels and considerable demand volatility.”
Conference call (in English) in relation to the interim report
Thursday, 11 November 2021 at 15:30 CET
Phone number for participants (no pin required): DK: +4532714988, UK: +442030595869, US: +17602941674
Aktieselskabet Schouw & Co.
Jørn Ankær Thomsen, Chairman
Jens Bjerg Sørensen, President, tel. +45 8611 2222