RTX — Interim / Quarterly Report 2016

Aug 25, 2016

Growth in revenue and EBIT

The Supervisory Board of RTX A/S has today considered and adopted the Group’s
interim report for the third quarter of the 2015/16 financial year covering the
period 01.04.2016 30.06.2016.

SUMMARY OF THE THIRD QUARTER FOR THE RTX GROUP

-- Net revenue amounted to DKK 104.3 million in the third quarter of the
2015/16 financial year corresponding to a revenue increase of 8.9% compared
to last years net revenue of DKK 95.8 million. Growth over the quarter was
negatively affected by the exchange rate for USD, and at the same time it
was negatively affected by the ceased income from leaseholders, as the
premises in Nørresundby was sold. Adjusted for the mentioned effects,
revenue growth was 12%. Revenue apportioned across RTX's business units was
as follows.
-- Business Communications rose by DKK 8.2 million corresponding to an
increase of 12.7% (after exchange effect 15.0%).
-- Design Services increased revenue by DKK 1.2 million corresponding to an
increase of 4.1% (after exchange effect 5.7%).
-- The Groups gross profit increased from DKK 52.8 million to DKK 61.6 million
and as a consequence of the revenue mix, the Groups gross margin increased
from 55.1% to 59.1%.
-- Capacity costs were affected by increased external lease costs as a
consequence of the sale of the premises in Nørresundby (see announcement
76/2015) and increased staff costs as a consequence of the higher level of
activity.
-- Operating profit (EBIT) totalled DKK 18.8 million compared to DKK 16.1
million last year corresponding to a growth of 16.8%.
-- Result after tax amounted to DKK 15.8 million compared to DKK 14.7 million
last year corresponding to an increase of 7.3%.
-- The Groups cash flow from operating activities for the third quarter was
DKK 22.6 million compared to DKK 13.5 million for the same period last
year.

SUMMARY OF THE FIRST THREE QUARTERS YEAR TO DATE OF 2015/16 FOR THE RTX GROUP

-- Net revenue amounted to DKK 298.8 million in the first three quarters of
2015/16 equivalent to an increase of 13.0% compared to last years revenue
of DKK 264.4 million. Adjusted for the exchange rate and lease income
effects, the growth in revenue was 9.0%. Revenue apportioned across RTX's
business units was as follows:
-- Business Communications increased by DKK 25.8 million corresponding to
an increase of 14.5% (after exchange effect 8.2%).
-- Design Services increased revenue by DKK 10.3 million corresponding to
an increase of 12.3% (after exchange effect 10.6%).
-- The Groups gross profit increased from DKK 148.2 million to DKK 177.5
million and as a consequence of the revenue mix, the Groups gross margin
increased from 56.0% to 59.4%.
-- Capacity costs were affected by increased staff costs and higher lease
costs.
-- Operating profit (EBIT) totalled DKK 52.7 million compared to DKK 41.7
million last year corresponding to a growth of 26.2%.
-- Result after tax amounted to DKK 42.1 million, which was on par with last
years result.
-- The Groups cash flow from operating activities for the first three quarters
was DKK 42.5 million compared to DKK 40.0 million for the same period last
year.
-- RTX maintains the announced expectations to the financial year 2015/16 in
which we expect revenue in the range of DKK 385-400 million, EBIT in the
range of DKK 60-67 million and an EBITDA in the range of DKK 64-71 million.
-- In accordance with announcement no 41/2016 Peter Røpke has been appointed
CEO in RTX. Peter Røpke will join RTX on 1 September 2016.

RTX A/S

Peter hostrup
Chairman

Jacob Vittrup
Acting CEO