To Nasdaq OMX Copenhagen A/S

Public announcement no. 475 
June 4, 2020

ANNUAL REPORT FOR GLUNZ & JENSEN HOLDING A/S FOR THE FISCAL YEAR 2019/20

The annual report for the fiscal year 2019/20 was reviewed and approved at the Board of Directors meeting today. The Board of Directors are dissatisfied with the achievements in the turnaround and with the results - and announces the following consolidated financial statements for 2019/20 set for approval at the Annual General Meeting on June 30^th, 2020.

The annual report has the following key figures:

The Group realized a revenue of DKK 195,6 million (2018/19: DKK 227,5 million), which is in line with the announced expectations (guidance) communicated to the market on November  22^nd, 2019.

Gross profit before non-recurring items totaled DKK 44,3 million (2018/19: DKK 50,5 million), equal to a gross profit margin of 22,7% (2018/19: 22,2%). Gross profit after non-recurring items totaled DKK 35,3 million (2018/19: DKK 43,8 million), equal to a gross profit margin of 18,0% (2018/19: 19,2%).

Profit before financial income and expenses, tax, depreciation, amortization and impairment of assets and before non-recurring items – and excluding the fair value adjustment on property – the EBITDA was DKK 14,9 million (2018/19: DKK 16,4 million). The financial performance is in line with the guidance level of DKK 10 million.

Loss for the year totaled DKK 18,4 million (2018/19: a loss of DKK 6,9 million), equal to a loss in earnings per share (EPS) of DKK 10,1 per share in 2019/20 (2018/19: a loss of DKK 3,8 per share).

The impact of Covid-19 on the global prepress market and thereby for Glunz & Jensen for 2020/21 is yet uncertain. As a consequence Glunz & Jensen will defer guidance until we have a better view of the consequences for the full financial year 2020/21.

For further information:
CEO Martin Overgaard Hansen, phone +4522608405
Chairman of the Board of Directors Flemming Nyenstad Enevoldsen, phone +4540431303