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East Asiatic Company : EAC Annual Report 2011 - Announcement no. 1/2012

02/23/2012 | 08:13am US/Eastern
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Executing the strategy

EAC's annual results for 2011 are positively affected by strategic initiatives in both businesses.

  • Consolidated revenue reached DKK 6,274m. (including hyperinflation adjustments), an increase of 62.6 per cent over 2010.
  • EBITDA (excluding other taxes) was DKK 573m, corresponding to an EBITDA margin of 9.1 per cent.
  • The Supervisory Board proposes a dividend of DKK 5 per share.

EAC outlook for 2012: Consolidated revenue of around DKK 8.1bn and EBITDA margin above 8.5 per cent.

EAC President & CEO, Niels Henrik Jensen, comments on results:

"In 2011 we took a number of important strategic initiatives which further expanded and consolidated our market leading position in both of our businesses. The results validate our plan to establish Santa Fe and Plumrose as independent listed companies.

In Santa Fe, the two major acquisitions placed our operation among the world's leading service providers in the mobility industry. Our improved ability to offer global, single-source solutions to multinational corporate customers and partners has been met with broad based recognition and resulted in attractive sales synergies - and continued growth is expected supported by a positive market development.

The solid results in Plumrose were also reinforced by a strategic acquisition which provided an attractive, complementary product portfolio and additional production capacity. Combined with effective price management, product innovation and intensive sales and marketing, Plumrose succeeded in increasing sales and further consolidating its market position in a contracting market."

Yours sincerely,

The East Asiatic Company Ltd. A/S

For additional information, please contact:

President & CEO Niels Henrik Jensen
+45 35 25 43 00
nhj@eac.dk

Group CFO Michael Østerlund Madsen
+45 35 25 43 00
mom@eac.dk

Attachments:
No 1_EAC Annual Report 2011.pdf
EAC_Annual Report 2011_UK.pdf

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