Growth is high in the continuing business as well as in the part of the business that has been sold in May Following the sale, the group is now fully focussed on the development of the Lauritz brand internationally.
Development in EBITDA Auction Turnover for the total business has grown by 28 percent compared to same period last year where Covid impacted the Nordic region significantly in the period after March For the continuing business Auction Turnover growth compared to Q1 is 20 percent. The auction revenue has increased by 25 percent compared to last year for the total business, and 16 percent for the continuing business, whereas the operating cost has only increased by 3 percent for the total business and by 0.
Future organization To bring Lauritz. Commercial initiatives Our continued focus on sales management, business control and execution both internally forex bank odense the headquarter and in all auction houses is showing results, and the rebound is significantly exceeding the losses driven by Covid in Q1 The comprehensive optimization process that all auction houses have gone through in terms of logistics and handling of the auction supply chain, has forex bank odense resources for intensified sales activities focusing forex bank odense the local evaluation forex bank odense sourcing of items for auction.
In terms of marketing activities, we are continuously intensifying our digital foot print, showing positive effects and strengthening our position within international, national and local communities interested in selling and buying sustainable vintage items of high quality within art, design and collectables.
The outcome of the process is that the activities in Sweden, Finland, and Germany has been sold.
Most of the proceeds from the stratégiákat építünk az opciókra will be used to reduce the debt of the group by approximately DKK 60m in June and a further DKK 11m in Mayafter which the remaining bond debt will be DKK m. Further, the terms forex bank odense the remaining bond debt have been adjusted, lowering the interest rate, and changing the amortization so the bond debt is a standing loan until the maturity date in December Impact on financial reporting due to the sale of activities The presentation of the business in the financial statements is impacted by the sale as the sold business is presented as discontinued operations in the statement of comprehensive income, balance sheet and statement of cash flow.
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The sold part of the business has been reclassified to discontinued operations and the value of the assets included as assets available for sale has been impaired to reflect the achieved sales price. The sale of the Swedish, Finnish, and German subsidiaries result in an accounting loss as the book value of the sold activities is higher than the achieved sales price, resulting in an impairment loss of DKK 29m.
A jövõben a piaci igényekhez rugalmasan alkalmazkodva kívánjuk fejleszteni és bõvíteni fentiekben vázolt tevékenységünket.
This loss is included in in Result from discontinued operations. Revenue increase of 16 percent.
Average knockdown price in Q1 was DKK 2, 2, Number of knockdowns 39, 34, Cost in line with last year. Cash flow from operations improved by DKK 7. QXL 39,Average Knockdown price excl.
The information was submitted for publication through the agency of the contact person set out above, at Attachments Company announcement nr 11 - Lauritz.