Schouw & Co. — Earnings Release 2016

May 3, 2016

Tuesday, Schouw & Co. released its interim report for the first quarter of
2016. Revenue remains largely unchanged compared to 2015 and EBIT improved by
3%. Full-year EBIT guidance slightly raised.

Highlights

-- Overall, the Schouw & Co. businesses are off to a good start to 2016.
Consolidated revenue was DKK 2,776 million, which is consistent with last
year, and EBIT was up by 3% to DKK 157 million.
-- BioMar lowers its revenue guidance and maintains its full-year EBIT
forecast. Fibertex Personal Care raises its full-year EBIT guidance. All
other portfolio companies maintain their full-year revenue and EBIT
forecasts.
-- The acquisition of GPV was completed effective 1 April 2016, and the
company’s financial results will be consolidated for the remainder of the
year.
-- Schouw & Co. now expects full-year 2016 revenue of about DKK 14.1 billion.
The Group now expects EBIT in the range of DKK 810-900 million. GPV is
expected to contribute EBIT of DKK 40 million, and Fibertex Personal Care
has raised its EBIT forecast by DKK 10 million.

Statement by Jens Bjerg Sørensen, President of Schouw & Co.

“Schouw & Co. had yet another good reporting period in the first quarter of
2016. While our revenue was flat, EBIT was up by 3% to the highest level in a
first quarter in our company’s history. The improvement was mainly driven by
the effects of investment and acquisitions, as well as efficient operations and
strong capacity utilisation.

The Specma acquisition took full effect in the first quarter, and we have now
consolidated the company in our hydraulics operations. Effective from the
second quarter, GPV also becomes a part of Schouw & Co., and the work to
integrate the company is already well underway. Our focus is on realising the
plans we have for growing and developing our businesses, and we are confident
that by acquiring Specma and GPV, we have taken important steps in the
continual efforts to ensure long-term profitability for Schouw & Co.

The first quarter is the low season for Schouw & Co., but the initial good
earnings performance has enabled us to raise our EBIT guidance slightly. Schouw
& Co. remains financially very strong and we are well positioned to respond to
any opportunities and challenges that may arise.”

Conference call (in Danish) in relation to the interim report

-- Tuesday, 3 May 2016 at 15:30 CEST
-- Phone +45 3272 9274, access pin 420949#

Aktieselskabet Schouw & Co.

Jørn Ankær Thomsen, Chairman
Jens Bjerg Sørensen, President

Questions relating to the above should be directed to Jens Bjerg Sørensen,
President, on tel. +45 8611 2222.