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2013 Annual Report released

Closing the year with strong results, we are satisfied with our performance in 2013

"Overall, we met the expectations announced in the beginning of the year despite low growth and fierce competition in the market. We are confident that 2014 will offer growth, however we are also prepared for difficult market conditions. The agenda for 2014 is clear: productivity and cost management, value-adding acquisitions and – most importantly – customer focus", says Jens Bjørn Andersen, CEO.

Outlook for 2014

  • Gross profit is expected to be in the range of DKK 10,100 - 10,500 million
  • Operating profit before special items is expected to be in the range of DKK 2,500 - 2,700 million
  • Special items are expected to constitute an expense of DKK 200 - 300 million
  • Net financial expenses are expected to approximate DKK 300 million
  • The effective tax rate of the Group is expected to be close to 26%
  • The free cash flow, before any acquisition or disposal of entities, is expected to be in the range of DKK 1,600 million
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