EAC Interim Report Q1 2012 - Announcement no. 5/2012

A/S Det Østasiatiske Kompagni 

15.05.2012 09:23
---------------------------------------------------------------------------

EAC Group:

Q1 progressed as expected in both businesses - outlook maintained

  -- Q1 2012 consolidated revenue reached DKK 1,634m (DKK 1,109m).
  -- Earnings before interest, tax, depreciation and amortisation (EBITDA)
     amounted to DKK 99m (DKK 62m) with a corresponding EBITDA margin of 6.1 per
     cent (5.6 per cent).

 Outlook:

  -- Consolidated revenue of around DKK 8.1bn (in line with previous outlook) -
     DKK/USD exchange rate of 560.00 for the remainder of 2012 (in line with the
     previous outlook).
  -- EBITDA of above 8.5 per cent (in line with the previous outlook).

 Santa Fe Group:

Continued stable market conditions with overall growth in international
relocations 

  -- Revenue of DKK 571m (DKK 315m) - an increase of 69.9 per cent (2.7 per cent
     excluding Interdean), both figures in local currencies.
  -- EBITDA of DKK 26m (DKK 26m) representing an EBITDA margin of 4.6 per cent
     (8.3 per cent). Excluding Interdean, the EBITDA margin was 8.8 per cent
     equivalent to an increase of 10.5 per cent.
  -- Outlook maintained with revenue of around DKK 2.5bn (in line with the
     previous outlook) with EBITDA margin of around 8.5 per cent.

 Plumrose:

Sales growth above inflation despite challenging market conditions

  -- Revenue of DKK 1,063m (DKK 794m) (IAS 29) - an increase of 26.2 per cent in
     USD.
  -- EBITDA amounted to DKK 85m (DKK 49m) corresponding to an EBITDA margin of
     8.0 per cent (6.2 per cent).
  -- Outlook maintained with revenue of around DKK 5.6bn (in line with the
     previous outlook) and an EBITDA margin of around 9.5 per cent.

Niels Henrik Jensen, President & CEO of EAC:

  -- 'In the Santa Fe Group we saw the positive market development from 2011
     continue into 2012 with growth in international relocations. The overall
     results are affected by the traditional Q1 low season in both Europe and
     Asia as expected, but our Asian activities continued to grow and profited
     from strong sales of relocation services to both new and existing
     customers. High season in Australia drove results in the international
     business which performed very strongly and more than outweighed a reduced
     demand for long-distance, domestic moving services. We continue to see
     positive results from our cross-regional sales and marketing efforts and
     expect that further sales synergies will materialise during 2012.
  -- In Plumrose, we maintained sales growth above the inflation rate despite a
     declining market based on our strong brand value, new product launches and
     continued solid marketing and promotional support. Net price increases
     combined with stable raw material costs resulted in a strong overall
     performance in Q1.'



Yours sincerely,

The East Asiatic Company Ltd. A/S



For additional information, please contact:

President & CEO Niels Henrik Jensen

 +45 3525 4300

 nhj@eac.dk



Group CFO Michael Østerlund Madsen

 +45 3525 4300

mom@eac.dk



www.eac.dk
News Source: NASDAQ OMX



15.05.2012 Dissemination of a Corporate News, transmitted by DGAP - 
a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.

DGAP's Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de

---------------------------------------------------------------------------
 
Language:     English
Company:      A/S Det Østasiatiske Kompagni
              
               
              Denmark
Phone:        
Fax:          
E-mail:       
Internet:     
ISIN:         DK0010006329
WKN:          
 
End of Announcement                             DGAP News-Service
 
---------------------------------------------------------------------------