Highlights
- Sales in 2020 reached EUR 2,602 million, a decrease of 3.7 percent in local currencies including a positive impact of 0.6 percent from acquisitions. Currency had a negative impact of 1.9 percent, resulting in a sales decrease of 5.6 percent in reported figures.
- In Q4 2020, sales increased 1.8 percent in local currencies including a positive impact of 0.6 percent from acquisitions, reaching EUR 700 million.
- EBIT in 2020 ended at EUR 338 million, a decrease of nine percent, with a 13.0 percent EBIT margin, down 0.5 percentage points from 2019.
- EBIT in Q4 2020 reached EUR 100 million, an increase of six percent, with an EBIT margin of 14.3 percent, up 1.1 percentage points from Q4 2019.
- Profit for the year reached EUR 251 million, a decrease of EUR 34 million compared to 2019.
- Investments for the year totalled EUR 362 million excluding acquisitions and received investment grants, primarily from capacity expansions.
- Free cash flow ended the year at EUR 76 million against EUR 2 million for 2019.
- Annualised return on invested capital reached 17.6 percent compared to 21.7 percent in 2019, due to reduced earnings and higher investments.
- The proposed dividend per share is DKK 32.00, unchanged from last year.
Outlook 2021
- Sales growth of 3-5 percent in local currencies.
- EBIT margin around 11 percent.
- Investment level around EUR 370 million excluding acquisitions.
For further details please refer to the Annual Report 2020
