New reporting structure for IC Group A/S

Apr 14, 2015, 18:27

The Group’s quarterly reporting will be changed, taking effect from the announcement of its Q3 2014/15 report.

 

So far, all costs have been allocated to all business segments of the Group (Premium brands and non-core business). However, to simplify and increase the transparency of the Group’s financial reporting going forward, the impact on earnings from the Group’s central functions and activities will be reported separately under the heading ”Unallocated items and eliminations”. The new reporting structure will provide an improved picture of the individual business units’ contributions to the overall Group result.

 

In all material respects, the item “Unallocated items and eliminations” will include:

  • Central earnings and costs that are not allocated to the Group’s business units.
  • Intra-group eliminations.
  • Any differences between costs invoiced to Group brands and actual realised costs pertaining to the Group’s Premium Services functions (Sourcing, Logistics, IT and Finance). For the financial year 2014/15, this item is affected by idle costs in particular, with an expected full-year effect of DKK 30 million.

 

Prior to the announcement of the Q3 2014/15 interim report, historical comparative figures have been compiled for the current financial year as well as for the two previous financial years 2012/13 and 2013/14.

 

The compiled comparative figures have been attached to this announcement and are also available on the Group’s website under: icgroup.net/investors/results-reports/key-figures/

 

 

IC Group A/S

Rud Pedersen

Group CFO

 

 

Please direct any questions regarding this announcement to:

Jens Bak-Holder

Investor Relations Manager

+45 21 28 58 32

 

This announcement is a translation from the Danish language. In the event of any discrepancy between the Danish and English versions, the Danish version shall prevail.