H+H International A/S - Interim financial report Q1-Q3 2013
Copenhagen, Denmark, 2013-11-19 07:54 CET (GLOBE NEWSWIRE) --
H+H International A/S Dampfærgevej 3, 3rd Floor 2100 Copenhagen Ø Denmark Telephone: +45 35 27 02 00 www.HplusH.com CVR No. 49 61 98 12
Key figures for the period 1 January to 30 September 2013
- Third-quarter revenue was DKK 377 million (2012: DKK 350 million). Revenue for the first three quarters was DKK 978 million (2012: DKK 962 million).
- Third-quarter EBITDA was DKK 42 million (2012: DKK 39 million). EBITDA for the first three quarters was DKK 74 million (2012: DKK 80 million).
- H+H made a profit before tax from continuing operations in the third quarter of DKK 8 million (2012: loss of DKK 45 million) and a loss before tax from continuing operations for the first three quarters of DKK 22 million (2012: DKK 72 million). The 2012 figures include write-downs of assets in the Czech Republic of DKK 46 million.
- Equity at 30 September 2013 was DKK 320 million.
- Net interest-bearing debt at 30 September 2013 was DKK 528 million.
- To improve earnings in Poland, it has been decided to shut down production temporarily in Skawina. There has been excess capacity in the Polish market in recent years, resulting in stiff price competition and low capacity utilisation at Polish production facilities. With this shutdown, H+H aims to help reduce the excess capacity in Poland and increase capacity utilisation at the company's other Polish production facilities.
- Oberlandesgericht Düsseldorf has rejected Xella's objections against the Bundeskartellamt's prohibition decision on a potential merger between Xella and H+H in the German market and denied Xella access to appeal the court's judgement.
- H+H adjusts its outlook for continuing operations for the 2013 financial year:
- EBITDA of around DKK 90 million before special items
- Free cash flow is upgraded to be in the region of DKK 20 million before disposals of assets, against DKK 0-15 million as previously announced
- Investments in the region of DKK 50 million
Please see attached pdf file for full version of the report.
Kent Arentoft Chairman of the Board of Directors
Michael T Andersen CEO
For additional information please contact: Michael T Andersen, CEO, or Niels Eldrup Meidahl, CFO, on telephone +45 35 27 02 00.
This is a translation of the company's announcement in Danish. In case of inconsistency between the Danish text and this English translation, the Danish text will take precedence.
