Financial objectives for 2014

In the autumn 2012, the Supervisory Board conducted a mid-term evaluation of the Go to Market strategy, which was launched in 2010 for the period 2011-2014. The basic elements in the strategy continue to apply. The DLH Group will base itself on two types of business – a warehouse based business, primarily towards Europe, and a global back-to-back trading business.

The original financial targets were drawn up in a different global economic climate than is currently the case and under a different structure. As a consequence of economic developments in Europe, the group has, to a greater extent than expected, been forced to focus on consolidation, debt reduction and cost reduction. This focus has resulted in a leaner and more competitive DLH.

With the economic prospects and the difficult market conditions that currently apply for the remainder of the strategy period, the Executive and Supervisory Boards find that the basis for expressing long-term earnings targets is too uncertain.