IC Group announces upward revision of earnings forecast for the financial year 2017/18

Apr 24, 2018, 7:58

 

Based on the preliminary financial figures for the first three quarters of the financial year, the Board of Directors has decided to revise upwards the Groups earnings forecast for the financial year 2017/18 which runs until 30 June 2018.

 

The EBIT margin is expected to increase to approximately 6% (previously “approximately 5%”).

 

This upward revision is primarily attributable to a faster than expected implementation of the new organizational structure as reported in May 2017. In particular, the re-organization and adjustments of IC Group’s central functions at its headquarters have been implemented faster and more efficiently than initially expected.

 

Investments for the financial year 2017/18 are expected to amount to approximately 2-3% of annual revenue (previously “3-4%”).

 

All other previously announced expectations for the financial year 2017/18 remain unchanged. The Group still expects to realize a minor revenue reduction compared to the financial year 2016/17.

 

IC Group will announce its interim report for Q3 2017/18 on 3 May 2018. Following the announcement to the market, an audiocast will be held for investors and analysts at which the CEO of the Group will present the financial statements as well as respond to any questions.

 

 

IC Group A/S

 

Alexander Martensen-Larsen

CEO

 

Please direct any questions regarding this announcement to:  

Jens Bak-Holder

Head of Investor Relations

+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.