HusCompagniet announces full-year financial guidance for 2023
Our financial guidance for 2023 reflects a continuing reduced visibility in a market with unusual uncertainties driven by the geopolitical situation combined with high inflation and volatile interest rates. The potential impact from these factors are elements adversely affecting HusCompagniet. Our outlook for 2023 will therefore comprise a wider guidance range and less quantified assumptions than previous years.
Outlook for 2023:
- Revenue is expected to be DKK 2,200-2,500 million
- EBITDA before special items is expected to be DKK 75-125 million
- EBIT is expected to be DKK 25-75 million
EBIT guidance adjustment includes special items effect of DKK 5-10 million from reorganisation.
Assumptions for the 2023 outlook
The 2023 guidance is based on no severe disruption of supply chains emerging, on raw material prices not significantly exceeding current levels and that the market will slowly pick-up during 2023.
Current expectations for 2023 deliveries are between 900 and 1,100 houses.
Revenue from the semi-detached segment is assumed to be between DKK 350-450 million.
Special items between DKK 5-10 million related to reorganisation in all segments and management changes in Sweden.
Dividends are suspended in 2023 leading to no distribution to shareholders in 2023. HusCompagniet expects dividend payments once the leverage is back at appropriate levels. HusCompagniet has initiated a review of the appropriate capital structure going forward.
For additional information, please contact:
Martin Ravn-Nielsen, Group CEO
Sofie Heerup Friis, Head of IR +45 30 99 54 00
HusCompagniet is a leading provider of single-family detached houses in Denmark. The company also builds semi-detached houses to both private consumers and professional investors and has a presence in Sweden where it produces prefabricated wood-framed detached houses through its VårgårdaHus brand.
The Group operates an asset-light and flexible delivery model with on-site building, primarily on customer-owned land. The construction is outsourced to subcontractors, allowing for a flexible cost base. In 2021, HusCompagniet generated revenue of approximately DKK 4.3 billion.
HusCompagniet delivered 1,831 houses in 2021, of which 1,441 were detached houses in Denmark, corresponding to a market share of approximately 24% of the Danish detached-house new-build market segment. HusCompagniet has 9 offices with showrooms in Denmark and Sweden and more than 60 show houses and offers digital sales through the online platform “HusOnline”. HusCompagniet currently has more than 400 employees.