Scandinavian Brake Systems A/S reported unaudited consolidated earnings results for the third quarter and nine months ended September 30, 2015. For the quarter, revenue was DKK 199.1 million against DKK 269.0 million a year ago. Operating profit before depreciation was DKK 10.5 million against DKK 25.9 million a year ago. Operating profit (EBIT) was DKK 2.2 million against DKK 22.1 million a year ago. Loss before tax was DKK 2.9 million against Profit before tax of DKK 12.7 million a year ago. Net loss after tax was DKK 3.5 million against profit after tax of DKK 8.6 million a year ago. Cash flows from operating activities (continuing operations) were DKK 9.7 million against DKK 23.8 million a year ago. Return on invested capital was 0.6% against 5.3% a year ago. Book value per share was negative DKK 6.1 against DKK 21.2 a year ago.

For the nine months, revenue was DKK 625.1 million against DKK 835 million a year ago. Operating profit before depreciation was DKK42.8 million against DKK 68.7 million a year ago. Operating profit (EBIT) was DKK 27.0 million against DKK 56.7 million a year ago. Profit before tax was DKK 10.4 million against DKK 28.9 million a year ago. Net profit after tax was DKK 5.7 million against DKK 20.0 million a year ago. Cash used in operating activities was DKK 31.0 million against DKK 56.1 million a year ago. Return on invested capital was 23.8% against 13.7% a year ago. Book value per share was negative DKK 6.1 against DKK 21.2 a year ago.

For the year 2015, the group expects revenue of DKK 775 million to DKK 800 million against previously announced DKK 800 million to DKK 825 million but maintains EBITDA recurring of DKK 47 million to DKK 52 million. Group EBITDA is expected to be negatively affected by DKK 12 million to DKK 15 million due to closure costs/special items in the financial year 2015 and positively affected by approx. DKK 5 million to DKK 6 million in the financial year 2016.