Highlights of the financial year 2005 

The NOWACO Group has posted another record profit.
The recognition of income from the divestment of the
Company’s distribution and production activities in the
Czech Republic, Slovakia and Hungary had a significant
impact on this profit.

• On 24 August 2005, NOWACO Group’s agreement on
the sale of the Company’s distribution and production
activities in the Czech Republic, Slovakia and Hungary
with a consortium of funds owned by JP Morgan
Partners and Bancroft II, LLP received final approval.

• As a consequence, the NOWACO Group posted a
record profit for 2005. Profit after tax and minority
interests amounted to DKK 336.2 million, of which
income from divestments represented DKK 286.8
million. The profit for 2005 was in line with the
forecast stated in Stock Exchange Announcement No.
21/2005 of 28 November 2005.

• Profit on divested activities and income from divestment
of activities was DKK 336.9 million. The financial
accounts for 2005 include the results for the divested
activities up to and including 31 July 2005. After this
date, only profit on the remaining Trading activities
and the Distribution activities in Lithuania is included.

• The continuing activities generated EBIT of DKK 15.0
million compared to DKK 18.7 million in 2004.
• Profit after tax and minority interests totalled DKK
336.2 million, which matched the forecast level of DKK
336.0 million.

• In the second half of 2005, TIKA Holding A/S completed
the announced Voluntary Tender Offer to its minority
shareholders, which was followed by a compulsory
redemption of the remaining shares. TIKA Holding A/S
therefore fully owned the Company at the end of 2005.

• As a consequence of the 100% ownership, NOWACO
Group A/S was delisted from the Copenhagen Stock
Exchange at the end of 2005, ending almost seven
years’ listing.

• It has been decided to merge NOWACO Group A/S
with its parent company TIKA Holding A/S with effect
from 1 January 2006, with TIKA Holding A/S as the
continuing company. NOWACO Group A/S will be
dissolved when the merger has been completed.

Download Annual Report 2005