Denmark’s Schouw & Co’s revenue soars 14% to 37.2 bn in FY23

March 02, 2024 - Denmark

Denmark-based industrial conglomerate Schouw & Co has reported a revenue of Danish krone (DKK) 37.2 billion (approximately $5.41 billion) in fiscal 2023 (FY23), marking a 14 per cent increase from the previous year, while earnings before interest, taxes, depreciation, and amortisation (EBITDA) reached DKK 2.85 billion, a significant 25 per cent growth.

Despite the overall group success, Fibertex Personal Care, a subsidiary of Schouw & Co, experienced a downturn in its full-year revenue, which declined by 23 per cent to DKK 1,891 million from DKK 2,454 million in FY22. Furthermore, Fibertex Nonwovens’ revenue for FY23 showed a positive trend, with a 5 per cent improvement to DKK 2,158 million from DKK 2,060 million in the previous fiscal, the company said in a press release.

The fourth quarter of fiscal 2023 (Q4 FY23) also highlighted the group's solid performance, with Schouw & Co realising revenue of DKK 8.85 billion and earnings of DKK 763 million. However, Fibertex Personal Care witnessed a 23 per cent year-on-year decline in revenue for Q4 FY23, amounting to DKK 447 million. On the brighter side, Fibertex Nonwovens reported a 6 per cent increase in Q4 FY23 revenue to DKK 504 million from DKK 473 million in the same quarter of the previous year.

Looking ahead to FY24, Schouw & Co is optimistic about maintaining its high level of activity and continuing its growth trajectory. The company projects revenue to be in the range of DKK 35.3-37.8 billion and forecasts earnings (EBITDA) to be between DKK 2.68-2.98 billion.Top of Form

“The profitable growth is a direct result of the significant investments we have made in recent years. We have initiated a number of activities and taken advantage of the opportunities that have arisen, and we are now seeing the effect of this. This shows that our strategy of making long-term investments in leading industrial companies is right,” said CEO Jens Bjerg Sorensen.