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2016-05-10

PWT Holding A/S: PWT Group realize a stable first half year of 2015/16 in a challenging retail market

PWT Group managed to realize a turnover of mDKK 182.7 in second quarter of
2015/16 (mDKK 192.6 in 2014/15). The lower turnover is mainly a consequence
of two things; a challenging retail market both in Norway and Denmark and
closing of Norwegian unprofitable retail stores. New Norwegian mens wear
stores are currently being established, in new and strategically improved
locations.

Focus on optimizing profit margin has led to increased margin in the second
quarter of 2015/16, compared to last year.

PWT Group continue to maintain focus on costs, which have reduced the fixed
cost, compared to the same period last year.

The performance and earnings (EBITDA) were satisfactory in the first half of
the financial year 2015/16.

Following an increased effort to reduce stock, debtors and deposits, the net
debt has been reduced according to expectations at the end of first half of
2015/16, compared to last year.

Net financial items are affected by value adjustments of USD-hedging
instruments, both in 2015/16 (negatively) and 2014/15 (positively).

PWT Group still expect a stable and positive development in the second half of
the financial year 2015/16, both in turnover and earnings (EBITDA), compared
to last year.

PWT_IFRS_Kvartalsrapportering Q2 201516
http://hugin.info/161371/R/2010460/744299.pdf

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This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: PWT Holding A/S via Globenewswire

HUG#2010460

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