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Royal Unibrew A/S recommends no FY 2014 dividend; issues outlook for FY 2014


Tuesday, 11 Mar 2014 01:59am EDT 

Royal Unibrew A/S:Says in fiscal year 2013 dividend of 352 mln Danish crowns was distributed to shareholders (2012: 379 mln crowns), including 110 mln crowns through share buy-backs (2012: 200 mln crowns).Says, due to the priority given to debt reduction, the Board of Directors recommends that no dividend be distributed in fiscal year 2014.Expects net revenue for fiscal year 2014 to show a low one-digit percentage point decline as compared to the pro forma net revenue calculated for 2013.Expects fiscal year 2014 EBITDA realized slightly higher than the pro forma EBITDA calculated for 2013.Says the outlook for 2014 will be updated when the restructuring negotiations with the employees at Hartwall and the conclusions have been completed in accordance with the procedures laid down.Expects to increase EBIT margin to 13 pct in the medium term. 

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