To Nasdaq OMX Copenhagen A/S
Public announcement no. 570
March 17th, 2025
ANNUAL REPORT FOR GLUNZ & JENSEN HOLDING A/S FOR THE FISCAL YEAR 2024
The annual report for the fiscal year 2024 was reviewed and approved at the Board of Directors meeting today. The Board of Directors announces the following consolidated financial statements for 2024 set for approval at the Annual General Meeting on April 9th, 2025.
The annual report 2024 has the following key figures:
The Group realized a revenue of DKK 131,0 million (2023: DKK 143,3 million).
Gross profit totalled DKK 34,4 million (2023: DKK 31,9 million), equal to a gross profit margin of 26,3% (2023: 22,2%).
EBITDA was DKK 9,5 million (2023: DKK 10,8 million).
Profit before tax for the year totalled DKK 3,3 million (2023: DKK 3,5 million).
The revenue, EBITDA and profit before tax is in line with the outlook (guidance) to the market.
The financial statements for 2024 are affected by improved (lower) cost prices and the changes in the cost prices have in part compensated for the inflation driven increase in cost prices in 2023, caused by the then higher inflation.
During 2023 there has been a focus on improving working capital. Inventories were reduced from DKK 43,0 million to DKK 37,2 million.
The fair value of the investment properties, Selandia Park A/S amounts to DKK 144,7 million (2023: DKK 146,5 million). The value was negatively impacted compared to 2023 due to a fair value adjustment of DKK 1,8 million DKK caused by higher market expectations on return on investments in 2024 compared to 2023.
Management underlines that the outlook for 2025 communicated on November 20th, 2024, may be associated with some uncertainty due to but not limited to the unpredictable and potential impact of inflation, shortage of supplies of parts, wars, natural disasters, and other unforeseeable incidents.
For further information please contact:
CEO Henrik Blegvad Funk: phone +45 21 39 05 32
Chairman of the board Flemming Nyenstad Enevoldsen: phone +45 40 43 13 03
