H1, 2021/22

To Nasdaq OMX Copenhagen A/S

Company announcement no. 510 November 22nd, 2021

INTERIM REPORT APRIL 1ST, 2021 – SEPTEMBER 30TH, 2021 (H1 2021/22)

The H1 2021/22 report of the fiscal year was reviewed and approved at the Board of Directors meeting. The Board of Directors announces the following consolidated financial statements year to date (YTD) for H1 2021/22.

Highlights

The revenue for H1 2021/22 was impacted by COVID 19 and amounted to DKK 67,5 million (2020/21: DKK 70,9 million). This is in line with our guidance and expectations.
The gross profit has improved to DKK 20,5 million in H1 2021/22 (2020/21: DKK 12,3 million). The improvement is mainly driven by product mix, improved efficiency, and supply chain improvements. The process of strengthening gross profit earnings through streamlining the production and supply chain with the consolidation of production and supply chain at the subsidiary in Slovakia is progressing according to the outlined plan and is close to being finalized.
EBITDA for the period was DKK 11,3 million (2020/21: DKK 4,0 million.)
Profit before tax for the period H1 2021/22 was DKK 6,7 million (2020/21: DKK -4,4 million), corresponding to a result per share (EPS) at 2,9 DKK (2020/21: -1,8 DKK).

Guidance for full year 2021/22Glunz & Jensen maintains its full year guidance for 2021/22 as communicated on June 8th, 2021, with a revenue at the DKK 135-145 million level, and the profit before financial income and expenses, tax, depreciation, and amortization EBITDA is expected at the DKK 23 million level. The profit before tax is expected at the DKK 12 million level.

This outlook assumes that demand and delivery is not significantly affected by another wave of COVID-19 outbreak, and Management underlines that the guidance for the fiscal year 2021/22 is associated with a substantial uncertainty as economies – and hence industrial demand - are still impacted by COVID-19.

For further information please contact:

CEO Martin Overgaard Hansen: phone +45 22 60 84 05Chairman of the board Flemming Nyenstad Enevoldsen: phone +45 40 43 13 03

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