Industria
Half-year report - RIAS A/S
NASDAQ OMX Copenhagen A/S
PO Box 1040
DK-1007 Copenhagen K
Roskilde, May 2024
RIAS A/S
HALF-YEAR REPORT FOR THE PERIOD
1 October 2023 – 31 March 2024
CVR 44 06 51 18
Company Announcement No 8 of 14. May 2024
Management's Review
Company Announcement No 8 of 14 May 2023
The Board of Directors has today adopted the half-year report for the period 1 October 2023 to 31 March 2024.
Highlights of H1:
Operating results:
Karsten Due, CEO, comments as follows on the half-year financial Statements 2023/24:
Outlook for H2 2023/24:
Based on the development in H1 and taking the development mentioned above into consideration for H2, the board of directors keep the expectations of an adjusted EBIT result for the financial year 2023/24 in the range of DKK 16-18 million as announced in the annual report 2022/23.
Roskilde, 14 May 2024
Karsten Due
CEO
Financial Highlights
1/10-2023- 1/10-2022- 1/10-2022-
Income statement (DKK million ) 31/3-2024 31/3-2023 30/9-2023
Revenue 136.5 142.5 313.1
Cost of sales 92.3 95.5 209.6
Gross profit 44.2 47.0 103.5
Capacity costs 43.2 42.1 86.6
Profit/loss before special items 1.0 4.9 16.9
Special items 0 0 0
Profit/loss before financial income 1.0 4.9 16.9
Financial items net 0 0.5 -0.9
Profit/loss before tax 1.0 4.4 16.0
Tax on profit/loss for the period 0.2 0.9 3,5
Net profit/loss for the period 0.8 3.5 12.5
Balance sheet, end of period (DKK million)
Non-current assets 117.3 121.7 122.5
Current assets 115.6 114.8 131.9
Assets 232.9 236.5 252.4
Equity 179.5 178.2 187.2
Deferred tax 9.8 9.5 9.8
Non-current liabilities 3.2 6.1 4.2
Current liabilities 40.4 42.7 51.2
Liabilities and equity 232.9 236.5 252.4
Cash flows (DKK million)
Cash flows from operating activities -5.6 10.3 26.9
Cash flows from investing activities -0.9 -2.6 -4.9
Cash flows from financing activities -11.4 -14.3 -16.1
Total cash flows -17.9 -6.6 5.9
Average number of full-time employees 105 105 104
Financial ratios:
Accounting ratios:
Gross margin 32% 33% 33%
Profit margin before special items 1% 3% 5%
Profit margin 1% 3% 5%
Solvency ratio, end of period 77% 76% 74%
Share ratios:
Profit per DKK 100 share 3,33 14.93 37
Equity value per DKK 100 share, end of period 778 772 812
Market price per DKK 100 share, end of period 660 635 670
The rations have been calculated in accordance with the definitions below. Profit per share which have been calculated in accordance with IAS 33.
Definitions of financial ratios:
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Gross margin is calculated as gross profit in % of revenue.
Profit margin before special items is calculated as profit/loss before special items in % of revenue.
Profit margin is calculated as profit/loss before financials and tax in % of revenue.
Book value per DKK 100 share is calculated as equity end of period divided by 1/100 of the share capital.
Profit per DKK 100 share are calculated as profit/loss for the period divided by 1/100 of the share capital after deduction of the Company's holding of own shares end of period.
Solvency ratio is calculated as equity end of period in % of balance sheet total end of period.
Shareholder information
Share capital:
The Company's share capital, DKK 23,063k, is distributed on DKK 3,125k A shares and DKK 19,938k B shares.
A shares, which are non-negotiable instruments, carry 10 votes per DKK 100 share, see article 11 of the Articles of Association. B shares, which are negotiable instruments, carry 1 vote per DKK 100 share, see article 11 of the Articles of Association.
The B-shares are listed on NASDAQ OMX Copenhagen A/S.
The Board of Directors and the Executive Board do not hold any shares in RIAS A/S.
Contact, Investor Relations :
For more information concerning investor relations and the share market, please contact:
Karsten Due, CEO
Tel: +45 46 77 00 00
E-mail: KAD@rias.dk
Management's Statement
The Board of Directors and the Executive Board have today considered and adopted the Half-year Report of RIAS A/S for the period 1 October 2023 – 31 March 2024.
The Half-year Report, which has not been audited or reviewed by the Company's auditor, is prepared in accordance with IAS 34 ”Interim Financial Reporting” as adopted by the EU as well as Danish disclosure requirements for listed companies.
In our opinion, the Half-year Report gives a true and fair view of the financial position at 31 March 2024 of the Company and of the results of the Company's operations and cash flows for the period 1 October 2023 – 31 March 2024.
Moreover, in our opinion, Management's Review gives a true and fair view of the development in the Company's activities and finances, the results for the period and the Company's financial position as a whole as well as a description of the most significant risks and elements of uncertainty to which the Company is exposed.
Roskilde, 14 May 2024
Executive Board:
Karsten Due Dannie Michaelsen
CEO CFO
Board of Directors:
Astrid Meicherczyk Peter Sørensen
Chairman Vice-chairman
Nicolas Neuwirth Dieter Wetzel
June Svendsen Jette Duus
Statement of Comprehensive Income
Balance Sheet
Other notes, see pages 13 - 16
Statement of Changes in E quity
Cash Flow Statement
Notes
Note 1. Accounting policies
The Interim Report is presented in accordance with IAS 34, Presentation of Interim Reports, as adopted by the EU and Danish disclosure requirements relating to listed companies.
The accounting policies remain unchanged from those applied in the Annual Report for 2022/23. The Annual Report for 2022/23 contains the full description and can therefore be found there.
Note 2. Accounting estimates and judgements
The preparation of the half-year Report requires Management to make accounting estimates that affect the application of the accounting policies as well as the recognition of assets, liabilities, income and expenses. Actual results may differ from such estimates.
When preparing the half-year Report, the most material estimates made by Management in connection with the application of the accounting policies and the most material uncertainty in this respect are the same as in connection with the preparation of the Financial Statements for 2022/23, to which reference is made.
Note 3. Revenue
Note 6. Right on use assets
Note 6. Right on use assets continued
Note 10. Contingencies and other financial commitments
Since the issue of the Financial Statements 2023/24, there have been no significant changes that have not been disclosed in this Half-year Report.
Note 11. Subsequent events
After the Half-year Report balance sheet date, no significant events have occurred that have not been incorporated and sufficiently disclosed in this Half-year Report.
Attachment
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