- Net sales of the first nine months were 19.0bn DKK, which equals a decrease of 4%. When adjusted for acquisitions, divestments and foreign currency translations, the decrease was 17%, compared to 5% the year before.
- The profit before other income and expenses showed a loss of 364m DKK compared to a profit of 1,024m DKK the year before. The profit before other operating income and expenses for Danfoss (excl. Sauer-Danfoss) is 255m DKK in the period.
- The operating profit (EBIT) showed a loss of 1,056m DKK compared to a profit of 1,035m DKK the year before. The operating profit (EBIT) for Danfoss (excl. Sauer-Danfoss) is -219m DKK compared to 1,226m DKK in 2008.
- The profit before tax was a deficit of 1,329m DKK, and the profit after tax was a loss of 921m DKK.
- In the third quarter, net sales fell by 23% to 6.5bn DKK, while EBIT was positive with 194m DKK. The profit before tax was 129m DKK.
- The free cash flow for the first nine months was 708m DKK compared to -3,120m DKK the year before.
Expectations for 2009:
Based on the development of the third quarter, Danfoss maintains its expectations for net sales in 2009. The valuation of Sauer-Danfoss is characterised by uncertainty, therefore, an impairment of this asset will be made in the fourth quarter. The expectations for the 2009 result are, therefore, adjusted to reflect both the improved operational result and the expected impairment of Sauer-Danfoss. However, the improvements in the result are connected with substantial uncertainty resulting from the major reluctance, uncertainty and nervousness which continues to characterise the markets.
- Danfoss expects net sales to be between 24bn DKK and 25bn DKK.
- EBIT is expected to be between -2.0bn DKK and -2.3bn DKK. For Danfoss (excl. Sauer-Danfoss), EBIT is expected to be between 0 and -0.3bn DKK.
- The result before tax is expected to be between -2.0bn DKK and -2.3bn DKK.
Please address any enquiries to:
Niels B. Christiansen, President and CEO, tel.: +45 74 88 75 50
Per Have, Chief Financial Officer, tel.: +45 74 88 40 01
Ole M. Daugbjerg, Chief Reputation Officer, tel.: +45 74 88 20 08
