Optimistic about 2016 …

Despite some uncertainty, companies like DONG Energy, Pandora, Novo Nordisk and Nordea have posted solid interim reports

A busy month for interim results has seen a number of Denmark’s highest-profile companies post healthy figures.

DONG ding a ling
Leading the way was DONG Energy with its first figures since its flotation in June, which revealed a 19 percent rise in its operating profit to 12.4 billion kroner thanks to strong growth in its wind power division, which accounts for about 70 percent of its earnings.

Net profits nearly doubled from 3.6 to 6.4 billion kroner, while the company’s net debt fell from 9.2 billion kroner in December to 3.8 billion at the end of June. Its EBITDA outlook for 2016 is 20-23 billion kroner.

Pandora knocked
Despite unveiling a second quarter financial result that showed double-digit growth in all its regions, jeweller Pandora was left disappointed in terms of previous estimates, and its shares slipped following the announcement.

The company experienced growth in all its regions – but only of 20 percent in Q2 compared to 41.4 percent in 2015.

Novo’s hot earner
Biotech giant Novo Nordisk’s interim turnover increased by 5 percent to 54.7 billion kroner, thanks in a large part to its insulin product Tresiba enjoying a 161 percent increase in sales.

Its net profit increased by 7 percent to 19.4 billion kroner as the firm sold diabetes medicine for 42.8 billion kroner and other products – such as growth hormones and medication for blood disorders – for 11.8 billion kroner.

Nordea overcomes
Nordea Bank’s financial results for the second quarter of 2016 have surpassed the bank’s own expectations, delivering 36.5 billion kroner in revenue – a decrease of only 7 percent compared to the same period last year despite Brexit and being implicated by the Panama Papers.

The bank had to write off 944.7 million kroner on loans and ended the first half of 2016 with a net profit of 7.4 billion kroner.

Legoland thriving
Legoland parks around the world are thriving, according to its 2016 interims. Revenue increased 11.1 percent compared to 2015.

There are currently six Legoland parks around the world, including the original one in Billund, with three more on the way in Dubai (opens 2016), Japan (2017) and South Korea (2018).

Its owner Merlin Entertainment operates over 100 attractions in 23 countries, including Sea Life aquariums, the Alton Towers themepark and the Madame Tussauds museums.

… little hope left for the summer

The poor summer has seen Danes have fewer barbecues, thus impacting heavily Danish Crown’s meat fresh sales.

The producer told globalmeatnews.com the period was unusually quiet, but rescued somewhat by some good trade results in China, where the consumption of pork is particularly popular, and in Japan.

Staying indoors
Campsites, outdoor summer parks and retailers located at holiday resorts have also lost out due to cloudy and rainy weather.

Following on from a healthy June, a significant decline in visitors has led to fewer sales of meat, beer and ice cream, as more Danes chose to holiday abroad.

Puffing away
If anything, beer was hoping to bounce back from a poor 2015 that saw sales decrease from 2014.

Some 44.6 million litres of beer, wine, spirits and alcopops were consumed in 2015, according to Danmarks Statistik, with spirits sales actually increasing.

Cigarettes sales also rose – for the first time in five years – from 5.6 to 5.8 billion, but cigar and cigarillo sales fell heavily by exactly a third. (CPH POST)

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