Schouw & Co A/S Q1 2020 Earnings Call Transcript

The following is excerpted from the question-and-answer section of the transcript.

Question: Jonas Guldborg Hansen - Danske Bank A/S, Research Division - Analyst : I have 3 questions, and I'll take them one by one. So first of all, your net working capital in BioMar is up 50% year-on-year. And you mentioned a lot of reasons for that in the report, but I feel pretty confident that you are not satisfied with this level, which is more than 13% of revenue. Could you talk a little bit about how you see this develop for the rest of the year? And what level relative to revenue you will be satisfied, so to speak?

Question: Jonas Guldborg Hansen - Danske Bank A/S, Research Division - Analyst : And do you expect to reach that by the end of this year, 10% revenue?

Question: Jonas Guldborg Hansen - Danske Bank A/S, Research Division - Analyst : Okay. Okay. Then my second question is on margins in BioMar. First of all, if you could put some color on what is driving the margin improvement in the quarter? And then also, cite a few comments to what is an attractive earnings level in BioMar for 2020? Is it 4% or 5% or 6% EBIT margin?

Question: Jonas Guldborg Hansen - Danske Bank A/S, Research Division - Analyst : Okay. And then my last question is for GPV and Borg Automotive. If you could give us the growth rate for March and for April for these 2 companies, that would be very helpful in trying to model the coming quarter. And then also, if you could put a number on the share of fixed operational costs versus variable costs in these 2 companies? without the prior written consent of Thomson Reuters. 'Thomson Reuters' and the Thomson Reuters logo are registered trademarks of Thomson Reuters and its affiliated companies. MAY 07, 2020 / 12:00PM, SCHO.CO - Q1 2020 Schouw & Co A/S Earnings Call

Question: Jonas Guldborg Hansen - Danske Bank A/S, Research Division - Analyst : Yes, how much is fixed and then how much is variable in these 2 companies as a share?