Stock market announcement 5 May 2021
SBS Group’s original outlook for 2021 was based on the assumption that SBS Automotive would contribute with revenue of DKK 470-490 million and an operating profit (EBITDA recurring) of DKK 30-35 million, which would entail a total operating profit (EBITDA recurring) of DKK 20-25 million for SBS Group. But after the sale, SBS Automotive will be presented as ”discontinuing activity” in SBS Group’s consolidated financial statements, and the outlook for the year is therefore adjusted:
SBS Group’s revenue is now expected to be DKK 8-10 million comprised of payments from the new owners of SBS Automotive and SBS Friction for services rendered in a transition period. SBS Group’s operating profit (EBITDA recurring) is expected to be a loss of DKK 15-17 million after costs related to operations of the parent company. Under “discontinuing activities”, SBS Automotive is expected to contribute with an EBITDA result of DKK 20-22 million further to the accounting profit of DKK 152 million before tax from the divestment of SBS Friction.