October 10, 2017
Company announcement no. 9 2017/18
Alleroed, 2017-10-10 19:15 CEST (GLOBE NEWSWIRE) -- Matas A/S has produced preliminarily figures for sales from its stores for Q2 2017/18 (1 July - 30 September 2017). The underlying (like-for-like) growth rate for owned stores was 0.8% in Q2 2017/18.
Underlying revenue in the first six months of 2017/18 was down by 1.1%.
As a consequence of the lower than anticipated revenue, the unsatisfactory result for Q1 2017/18 and the view that the current pressure on the gross margin will continue in the second half of the financial year, expectations for 2017/18 are adjusted.
The revised expectations for 2017/18 are:
- A decline in the underlying (like-for-like) revenue of between 0 and 2% after taking a negative calendar effect into account.
- EBITA to be realised at a level between DKK 440-470 million.
- Investments of around DKK 90-100 million (excluding store acquisitions).
The above includes non-recurring costs in connection with the change of CEO at Matas A/S.
The previous expectations for 2017/18 were:
- An underlying (like-for-like) revenue growth of 1-3 % after taking a negative calendar effect into account.
- Improved EBITA relative to financial year 2016/17.
- Investments of around DKK 90-100 million (excluding store acquisitions).
The Group's policy remains to distribute surplus capital to shareholders through a combination of dividends, of a minimum of 60% of adjusted profit after tax, and share buybacks. For 2017/18 the following applies:
- A share buyback program will not be initiated.
- Matas A/S will pursue a dividend payment in DKK at the same level as for 2015/16 and 2016/17 (DKK 6.30 per share).
The interim report for the first six months of 2017/18 will be published on 8 November 2017.
Matas A/S
For further information, please contact:
Anders T. Skole-Sørensen
CFO, tel. +45 48 16 55 55
Elisabeth Toftmann Klintholm
Head of Investor Relations & Strategy, tel. +45 48 16 55 48
Close window | Back to top
Matas A/S published this content on 10 October 2017 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 10 October 2017 17:19:05 UTC.
Original documenthttp://investor.en.matas.dk/releasedetail.cfm?ReleaseID=1043390
Public permalinkhttp://www.publicnow.com/view/B329332B774E61FDA5D8AF1D36BA1AADC2D32502