Interim report for Q1 2015/16 (01 October 2015 - 31 December 2015)

The Supervisory Board of RTX A/S has today considered and adopted the Group’s interim report for the first quarter of the 2015/16 financial year (covering the period 01.10.2015 – 31.12.2015).

Summary of the first quarter of the financail year 2015/16 for the RTX Group

• Net revenue amounted to DKK 91.8 million in the first quarter of the 2015/16 financial year corresponding to a revenue increase of 19.7% compared to last year’s net revenue of DKK 76.7 million. Growth over the quarter was positively affected by the positive exchange rate for USD. Adjusted for foreign exchange effects, revenue growth was 6.8%.
   
• Revenue apportioned across RTX’s business units is as follows:
  • ProTelecom rose by DKK 9.9 million corresponding to an increase of 19.5%. The revenue growth is driven by an increase in orders of handsets to customers in the segment for large-scale communication systems and by an increase in handset orders for customers in the segment targetted at small and medium- sized communication systems.
     
  • Design Services increased revenue by DKK 5.1 million corresponding to an increase of 20.3%. During the first quarter of the 2015/16 financial year, the business unit experienced continued growth in demand for customer-financed development projects. The revenue growth, however, both stems from the business unit’s core business, and also from the unit’s scalable sales of customer- adapted modules.
     
• The Group’s gross profit increased from DKK 44.7 million to DKK 54.2 million and as a consequence of the revenue mix, the Group’s gross margin increased from 58.3% to 59.0%.
   
• Capacity costs were affected by provisions for non-recurring costs. Provisions amount to DKK 3.4 million.
   
• Operating profit (EBIT) totalled DKK 12.1 million compared to DKK 11.2 million last year corresponding to growth of 7.6%.
   
• The Group’s cash flow from operating activities for the first quarter was DKK 2.6 million compared to DKK 5.8 million for the same period last year.
   
• As communicated in Announcement no. 76/2015 of 23 December 2015, RTX has entered an agreement concerning the sale of the company’s premises in Nørresundby. The contract means that RTX transferred the property with effect from 1 January 2016. RTX will continue as a tenant in part of the property for a minimum of 10 years. The deal is bringing in a value on par with the book value of DKK 71.5 million.
   
• The development in the first quarter of the financial year confirms the expectations announced in connection with the Annual Report for 2014/15 (c.f. Announcement no. 65/2015 of 25 November 2015) in which RTX expects revenue in the range of DKK 365-380 million and EBIT in the range of DKK 54-60 million and an EBITDA in the range of DKK 58-66 million.

RTX A/S

Peter Thostrup
Chairman

Jacob Vittrup
Acting CEO

Enquiries and further information:

Acting CEO Jacob Vittrup, tel +45 96 32 23 00

Appendices

Interim report for Q1 2015/16 comprising:

• Group financial highlights and key ratios
• Management report
• Group income statement
• Statement of comprehensive income
• Group balance sheet
• Group equity statement
• Group cash flow statement
• Notes

Vedhæftede filer:

FB2016 04_UK Interim report Q1 2015-16.pdf