The stable trend witnessed in Hartmann's European markets continued in the third quarter of the year, and both Europe and North America reported revenue and operating growth for 9M 2013. The activities to enhance efficiency in Europe and to expand production capacity in North America are progressing according to plan and will contribute to the achievement of Hartmann's long-term goals. Hartmann retains its full-year revenue forecast of DKK 1.5-1.6 billion and revises its profit margin forecast to 8.5-9.5% against previously 7.5-9.5%. CFO and interim CEO Marianne Rørslev Bock on Hartmann's performance in 9M 2013: "Revenue and operating profit increased in the first three quarters of the year, and the efficiency enhancements in Europe as well as the expansion in North America have progressed according to plan. The stable development in our European markets has continued in the third quarter, and we are working determinedly to maintain the positive trend in Europe and further improve results." Marianne Rørslev Bock on Hartmann's outlook: "Following the stabilisation in Europe and the positive developments in the first three quarters, we revise our profit margin forecast to 8.5-9.5% against previously 7.5-9.5%. We still expect revenue of DKK 1.5-1.6 billion in 2013." Highlights * Hartmann's revenue for 9M 2013 was DKK 1,169 million (2012: DKK 1,142 million), and operating profit* was DKK 104 million (2012: DKK 86 million), equal to a profit margin* of 8.9% (2012: 7.5%). For Q3, revenue was DKK 376 million (2012: DKK 373 million), and operating profit was DKK 39 million (2012: DKK 24 million), equal to a profit margin of 10.5% (2012: 6.5%). * Cash flows from operating and investing activities grew to a net cash inflow of DKK 82 million for 9M 2013 (2012: a net cash inflow of DKK 69 million) and amounted to a net cash inflow of DKK 16 million for Q3 (2012: a net cash inflow of DKK 17 million). Return on invested capital (ROIC) rose to 20.4% (2012: 18.7%). * The European revenue for 9M 2013 was DKK 950 million (2012: DKK 946 million), and operating profit increased to DKK 73 million (2012: DKK 63 million), equal to a profit margin of 7.6% (2012: 6.6%). For Q3, revenue was DKK 303 million (2012: DKK 306 million), and operating profit grew to DKK 28 million (2012: DKK 18 million), equal to a profit margin of 9.3% (2012: 5.9%). The efficiency enhancements in the European business continue and are aimed at maintaining the positive trend and further improving the financial performance. * Revenue for the North American business rose to DKK 219 million for 9M 2013 (2012: DKK 197 million), and operating profit rose to DKK 49 million (2012: DKK 41 million), equal to a profit margin of 22.5% (2012: 21.0%). For Q3, revenue was DKK 73 million (2012: DKK 66 million), and operating profit grew to DKK 16 million (2012: DKK 11 million), equal to a profit margin of 21.8% (2012: 16.3%). * Special items amounted to an expense of DKK 39 million for 9M 2013 (2012: DKK 0 million), covering the closure of the manufacturing facility in Finland and a severance payment to the former CEO of Hartmann. * Hartmann has appointed Ulrik Kolding Hartvig as CEO. Ulrik Kolding Hartvig will join Hartmann on 1 May 2014 at the latest, taking over from Marianne Rørslev Bock, who has acted as interim CEO since June 2013. * Hartmann retains its full-year revenue forecast of DKK 1.5-1.6 billion and revises its profit margin forecast to 8.5-9.5% against previously 7.5-9.5%. * References to operating profit in this report are to operating profit before special items, and references to profit margin are to profit margin before special items, unless otherwise stated. For additional information, please contact: Marianne Rørslev Bock CFO and interim CEO Tel.: (+45) 45 97 00 57 [HUG#1742431]
Interim report 9M 2013 The stable trend witnessed in
Top 10 Most Recent News Articles
Voter Events by Valley Community Healthcare Aim to Empower
Here's a game-changer for the community. Valley Community Healthcare (VCH) is stepping up, proving that healthcare doesn't just stick to check-ups and prescriptions. It's about the whole shebang—community empowerment included. This October, VCH is hosting two incredible voter events, collaborating with the Los Angeles County Registrar-Recorder's Mobile Voting Program....
Continue Reading
LG OLED evo W6: UAE Roadshow Starts with a Bang
They've done it again, folks. LG Electronics is out there kicking up a storm with their all-new OLED evo W6 True Wireless Wallpaper TV, and they're bringing the action straight to the UAE's doorsteps. Imagine taking a stroll and stumbling upon this technological marvel at some fancy spot like The Lotus Lounge at Anantara The Palm Dubai Resort. This ain't just a TV, it's a...
Continue Reading
Weifang's Cultural Resurgence: A Global Epigraphy Fest
A Historical Meltdown into Global Recognition Welcome to the ride where ancient stones talk and cultural borders vanish. We're diving into the beating heart of Weifang, a place you're probably hearing about now because the town's hosting a packed international media tour. And, for a change, this isn't just another tourist trap; it's a cultural adrenaline shot to the arm,...
Continue Reading
Masimo's smartSET™ Revolutionizes Patient Monitoring
Breaking Ground in Patient Monitoring Let's dive into the gritty details behind Masimo's latest FDA-nod: the smartSET™ system. This gizmo ain't your ordinary pulse oximeter; it's a next-gen hand-holder for the medical world, poised to ride the AI wave straight into the clinic. They've cracked open a new way for clinicians to peek behind the curtain of patient vitals,...
Continue Reading
Innventure Faces Major Lawsuit Over Misleading Investors
Missteps at Innventure: A Costly Lesson in Investor Trust The stock market is no stranger to drama, but Innventure's saga feels like a page ripped right out of a thriller novel. You’ve got accusations, alleged fabrications, and a swift drop in stock prices that’s left some investors shaking their heads. The company, nestled under the ticker NASDAQ:INV, finds itself...
Continue Reading
Hyliion Class Action Deadline Nears for Investors
Potential Shockwaves for Hyliion Investors Investors are having a showdown with Hyliion (NYSE:HYLN) these days. With the looming October 27, 2026, deadline to jump into a securities class action, it seems Hyliion's latest escapade smells worse than a fish market on a hot day. We’ve got allegations here stronger than your uncle’s morning coffee. Understanding the Legal...
Continue Reading
AEVEX Facing Class Action Deadline Amid Stock Turmoil
Investors are no strangers to the rough and tumble of stock markets, but things get downright messy when trust is shattered. That's the sorry saga unfolding with AEVEX, where shareholders are feeling the heat after a sharp nosedive in stock value. The clock is ticking to join the class action, and any AEVEX investor worth their salt should pay attention. Unraveling...
Continue ReadingTop 5 Most Recently Viewed Articles
Zepp Health Corp Posts Mixed Q3 Results Amid Product Launches
Financial Overview of Zepp Health Corporation's Third Quarter Zepp Health Corporation (NYSE: ZEPP) recently released its unaudited financial results for the third quarter. The company's revenues totaled $42.5 million with a basic and diluted net loss per share recorded at $0.05, translating to a net loss of $13.3 million. Notably, these figures reflect a challenge the...
Continue Reading
Artea Bank to Ignite Third Fund for Apartment Building Renovation
Artea Bank Launches New Fund for Multi-Apartment Building Renovations AB Artea Bankas has announced its intention to establish a third fund aimed at modernizing multi-apartment buildings. This initiative follows a notification from the European Investment Bank (EIB), signaling the start of negotiations for this new venture. Projected assets for the fund are substantial,...
Continue Reading
Insights on PROCEPT BioRobotics Quarterly Earnings Forecast
Expected Earnings Report for PROCEPT BioRobotics PROCEPT BioRobotics (NASDAQ: PRCT) has set the stage for its next quarterly earnings report, which is eagerly anticipated by investors. The earnings release is scheduled for an upcoming Monday, an event that this company looks forward to with optimism. Market analysts currently predict that PROCEPT BioRobotics will post an...
Continue Reading
Akebia Therapeutics' New Stock Offering Aims for Growth
Akebia Unveils New Public Offering of Common Stock Akebia Therapeutics, Inc. (Nasdaq: AKBA), a dedicated biopharmaceutical company focused on improving the lives of individuals affected by kidney disease, has publicly announced the pricing details of its recent offering. This offering involves 25 million shares of common stock, each priced at $2.00, aiming to generate...
Continue Reading
Crédit Agricole SA Announces Adjustment in Liquidity Contract
Crédit Agricole SA Adjusts Liquidity Contract with Kepler Cheuvreux In a significant move, Crédit Agricole S.A. has announced a reduction of resources available for its liquidity contract with Kepler Cheuvreux. This shift aims to enhance the market activity surrounding the shares of the company, providing better stability and trading conditions in the financial market....
Continue Reading