Danish hardwood and panels supplier Dalhoff Larsen & Horneman A/S (DLH) has reported a fall in gross profits to DKK85 million ($14.62 million) in Q1 2012 from DKK102 million ($17.56 million) in Q1 2011.
DLH has reported an increase in the net loss of the company from DKK4 million ($688,396) in the quarter ended 31 March 2011 to DKK10 million ($1.72 million) for the corresponding period of 2012.
The operating profit of the company has fallen seven folds to reach DKK2 million ($344,376) in the first quarter of 2012 from DKK14 million ($2.41 million) in the first quarter of 2011.
The earnings before interest, taxes, depreciation, and amortization (EBITDA) for Q1 2012 was reported to be DKK7 million ($1.2 million) against DKK20 million ($3.44 million) reported for the corresponding period of 2011.
For the period ended 31 March 2012, the company has reported a net turnover of DKK657 million ($113.12 million), which for the first quarter of 2011 was reported to be DKK715 million ($123.11 million), representing a fall of 8%.
DLH, at the end of three month period ended 31 March 2012, has a negative cash flow from operating activities (CFFO) of DKK74 million ($12.74 million).