Company's EBIT grew by 22% in H1 2024, with strong market share gains and organic growth.

From GlobeNewswire: 2024-08-22 11:17:00

The company’s EBIT grew by 22% in H1 2024, with top-line development as expected and strong market share gains. Organic volume and net revenue grew by 3% and 6%, respectively. Efficiencies drove an organic EBIT growth of 16%, resulting in a margin of 11.7%. Improved financial flexibility led to an extraordinary dividend payout.

Key financial highlights for H1 2024 include a 3% organic volume growth, 6% organic net revenue growth, and a 16% organic EBIT growth. EBITDA rose by DKK 221 million, EBIT was DKK 156 million higher, and net revenue amounted to DKK 7,379 million. The EBITDA margin was 16.2%, with an EBIT margin of 11.7%.

In Q2 2024, the company saw a 1% organic volume growth, with continued market share gains and strong momentum. Net revenue increased by 16% to DKK 4,180 million, driven by a 4% organic growth. EBITDA rose by DKK 147 million, with an EBIT of DKK 656 million. The free cash flow for H1 2024 reached DKK 560 million.

ESG highlights for H1 2024 include a 35% organic decrease in carbon emissions, improvements in energy efficiency, and targets approved by the Science Based Targets initiative for net-zero emissions by 2040. Acquisitions of Vrumona and San Giorgio contributed inorganically to the reported figures for Q2 and H1 of 2024, with integration progressing as planned.



Read more at GlobeNewswire:: Interim Report for H1 2024