Mar 09, 2012. /Lesprom Network/. DLH achieved a turnover of DKK 2,937 million ($518,263) in 2011 against DKK 3,125 million ($551,438) in 2010, corresponding to a fall of 6%. Nonetheless, the Group improved its profitability – among other things by implementing a number of cost adjustments, as the company said in a press release received by Lesprom Network. In 2011 EBITDA was DKK 87 million ($15 million) against DKK 76 million ($13.4 million) the previous year, corresponding to a rise of 14%. The Group posted an EBIT of DKK 62 million ($11 million) in 2011 against DKK 49 million ($8.6 million) in 2010, corresponding to a rise of 27%. The EBIT margin rose from 1.6% to 2.1%. “2011 became a landmark year for DLH during which we took a decisive step towards strengthening our position as a focused, global timber wholesaler. We achieved our earnings target despite the significantly deteriorating global economy. Efforts to further develop DLH as a dynamic, focused and profitable business will continue in 2012,” says President & CEO Kent Arentoft. DLH implemented a successful capital increase and a number of planned divestments of non-strategic operations, which helped to reduce the net interest bearing debt by 42% from DKK 948 million ($167 million) in 2010 to DKK 546 million ($96 million) in 2011. The economic slowdown that took place in the second half year of 2011 continued into 2012 and put a damper on demand, which creates an imbalance between supply and demand. Despite this, DLH expects turnover and EBIT margin in 2012 to be on a par with 2011. ”During the year under review, we implemented a number of initiatives which will create the foundation for improving our EBIT in the future. DLH has become a more efficient company – and there remain opportunities for improvement that we’re actively pursuing,” says Kent Arentoft. DLH is a Danish owned group quoted on the Copenhagen Stock Exchange and since 1908 trading in timber and wood products all over the world.