Trading update for Q2 2017/18 and adjusted expectations for 2017/18
Matas A/S
Other information disclosed according to the rules of the Exchange
Trading update for Q2 2017/18 and adjusted expectations for 2017/18
Company announcement no. 9 2017/18
Alleroed, 2017-10-10 19:15 CEST (GLOBE NEWSWIRE) -- Matas A/S has produced
preliminarily figures for sales from its stores for Q2 2017/18 (1 July – 30
September 2017). The underlying (like-for-like) growth rate for owned stores
was 0.8% in Q2 2017/18.
Underlying revenue in the first six months of 2017/18 was down by 1.1%.
As a consequence of the lower than anticipated revenue, the unsatisfactory
result for Q1 2017/18 and the view that the current pressure on the gross
margin will continue in the second half of the financial year, expectations for
2017/18 are adjusted.
The revised expectations for 2017/18 are:
-- A decline in the underlying (like-for-like) revenue of between 0 and 2%
after taking a negative calendar effect into account.
-- EBITA to be realised at a level between DKK 440-470 million.
-- Investments of around DKK 90-100 million (excluding store acquisitions).
The above includes non-recurring costs in connection with the change of CEO at
Matas A/S.
The previous expectations for 2017/18 were:
-- An underlying (like-for-like) revenue growth of 1-3 % after taking a
negative calendar effect into account.
-- Improved EBITA relative to financial year 2016/17.
-- Investments of around DKK 90-100 million (excluding store acquisitions).
The Group's policy remains to distribute surplus capital to shareholders
through a combination of dividends, of a minimum of 60% of adjusted profit
after tax, and share buybacks. For 2017/18 the following applies:
-- A share buyback program will not be initiated.
-- Matas A/S will pursue a dividend payment in DKK at the same level as for
2015/16 and 2016/17 (DKK 6.30 per share).
The interim report for the first six months of 2017/18 will be published on 8
November 2017.
Matas A/S
For further information, please contact:
Anders T. Skole-Sørensen
CFO, tel. +45 48 16 55 55
Elisabeth Toftmann Klintholm
Head of Investor Relations & Strategy, tel. +45 48 16 55 48