Interim report – first quarter of 2025

Core Viewpoint - Schouw & Co. reported a Q1 2025 performance that met expectations despite a turbulent environment, with limited direct impact from the turmoil on operations, although customer caution is noted [1][3]. Financial Performance - Revenue reached DKK 7.9 billion, reflecting a 1% increase [6] - EBITDA was DKK 565 million, showing a 13% decrease [6] - Cash flows from operations improved by DKK 29 million, totaling DKK 220 million [6] - Earnings per share decreased to DKK 4.94, down 20% [6] - Return on invested capital (ROIC) excluding goodwill was 12.5%, a decrease of 1.0 percentage points [6] - Full-year EBITDA guidance remains unchanged [6] Business Model and Strategy - The business model of Schouw & Co. demonstrates its value during challenging times, with a significant portion of revenue being non-cyclical [4] - The company benefits from a highly diversified product offering and a global presence, positioning it as a steady performer amid turbulence [4] - Schouw & Co. is focused on leveraging its financial strength and versatility to pursue long-term attractive investments [4]