Schouw & Co. — Earnings Release 2011

Mar 8, 2012

TO THE DANISH FSA AND NASDAQ OMX COPENHAGEN COMPANY ANNOUNCEMENT

NO. 2/2012, MARCH 8, 2012

The Board of Directors today approved the 2011 Annual Report

2011

2011 was a year of big improvements in revenue and even bigger improvements in operational earnings.

In May, Fibertex Nonwovens acquired the French company Tharreau Industries, increasing revenue substantially.

The greater business activity and the acquisition of Tharreau Industries increased the working capital tie-up by 33%.

The financial investments in Vestas and Lerøy had a negative aggregate impact of DKK 556 million.

Net interest-bearing debt rose by DKK 578 million, but its ratio relative to EBITDA fell to 2.6x.

2012

Both revenue and earnings are expected to continue growing in 2012, despite the general global economic uncertainty.

For 2012, Schouw & Co. expects to generate consolidated revenue in the range of DKK 12.5– 13.0 billion (2011: DKK 11.9 billion) and EBIT in the DKK 660-740 million range (2011: DKK 646 million).

Aarhus, March 8, 2012

Jørn Ankær Thomsen	Jens Bjerg Sørensen
Chairman	President

BioMar

Volumes sold up by 26%, revenue improved by 34% and EBIT was up 81%. The advances were mainly due to the operations in Norway and in Chile.

Fibertex Personal Care

Revenue increased due to higher raw materials prices, but earnings fell, inpart due to weaker sales in Europe in the first half of the year.

Fibertex Nonwovens

Acquisition of Tharreau Industries lifted revenue, but rising raw materials prices and weak activities in the car industry caused an EBIT loss.

Grene

Revenue was up by 6% and EBIT by 80% as a result of progress and efficiency improvements in Denmark, Poland and Norway.

Hydra-Grene

19% revenue growth based on higher OEM and aftermarket sales. EBIT margin lifted to 15%.

Martin

Strong growth in the USA and Europe produced a 20% revenue improvement. Strong EBIT growth, but still substantial room for improvement.

Schouw & Co. will be reviewing the annual report online and will be hosting a teleconference (in Danish) for analysts, the media and other interested parties on

THURSDAY, MARCH 8, AT 14.00 CET

The presentation will be webcast. A link to the presentation is available at the Schouw & Co. web site, www.schouw.dk, where the presentation will also be available for subsequent viewing.

Those wishing to attend the teleconference are invited to call tel. +45 32 71 47 67. Questions relating to the above should be directed to Jens Bjerg Sørensen, President, tel. +45 8611 2222.