DGAP-News: H&R AG publishes first quarter 2014 results

DGAP-News: H&R AG / Key word(s): Quarter Results H&R AG publishes first quarter 2014 results 09.05.2014 / 07:07 --------------------------------------------------------------------- Press Release H&R AG finishes Q1 2014 distinctly above previous year's equivalent quarter results Salzbergen, May 09, 2014. In the first quarter of 2014, H&R AG achieved improved operating results (EBITDA). At EUR7.7 million, the first quarter surpassed the results of the comparable first quarter of 2013 by almost 31%. This achievement was accomplished although Group sales for the first three months were, at EUR282.6 million, 6.4% lower than in the previous year. In the first three months of financial 2014, Group sales of EUR 282.6 million were achieved, thus less than at the start of 2013 (first quarter of 2013: EUR 301.8 million). At the same time, the operating result improved significantly. To a great extent, this profits trend reflects the effects from the conversion to contract production of the Salzbergen site. At similar or even lower sales proceeds, the new configuration supports more stable profit contributions. Changes in Group Divisions In the Group's Chemical-Pharmaceutical Raw Materials - National, sales declined by 4.9% to EUR 219.3 million (first quarter of 2013: EUR 230.7 million). At the same time, with almost stable raw materials prices and consistently weak base oil prices, earnings from operations (EBITDA) in this segment improved to EUR5.5 million from EUR2.9 million). Base oil prices, which have been rising since March, could provide positive incentives for the segment in the further course of the year. In the International Chemical-Pharmaceutical Division, the decline in sales of 10.6% to EUR 53.3 million (first quarter of 2013: EUR 59.6 million) was somewhat more evident. Because of the tense pricing situation, at the same level of sales, almost all subsidiaries remained below their sales contribution as compared to the prior year. The profits level especially reflected foreign exchange effects, leading to an operating result (EBITDA) of EUR 3.4 million, slightly weaker than the EUR 3.7 million in the same period of the prior year. Another sales decline was recorded in the Plastics segment: At EUR 14.1 million (Q1 2013: EUR 15.4 million), EBITDA receded with a deficit of EUR 0.6 million (Q1 2013: EUR 0.4 million). The improved figures from the international sites could not compensate for the negative effects in Germany. Forecast for 2014 confirmed In spite of the improved start to the year as compared to the equivalent quarter of last year, at the beginning of 2014 H&R AG was below the results contribution of the third and fourth quarter of 2013. Due to the currently positive trend in market prices as well as the measures introduced by the company, the company considers the earnings level being aimed at still within reach. At the same time, the Board also expects positive incentives resulting from the overall economic development and market trends. For further details, please refer to the Interim Report for the First Quarter of 2014, published today and available in PDF format under the Investor Relations tab on www.hur.com. <pre> H&R Group - Key figures (in EUR 1/1/ - 31/3/ 1/1/ - 31/3/ Variance million) 2014 2013 Revenue 282.6 301.8 -19.2 Operating result (EBITDA) 7.7 5.9 1.8 EBIT 2.1 -0.3 2.4 Earnings before taxes -1.6 -3.9 2.3 Group deficit/surplus after minority -1.1 -2.8 1.7 interests Group earnings per share (EUR) -0.04 -0.10 0.06 Operating Cash Flow -29.6 45.8 -75.4 Free cash flow -32.5 39.0 -71.5 31/3/2014 31/12/2013 Variance Balance sheet total 562.9 594.7 -31.8 Equity 187.9 189.2 -1.3 Equity ratio (%) 33.4 31.8 1.6 </pre> <pre> May 9, 2014 Publication of Q1 Report 2014 May 13, 2014 Annual Shareholders' Meeting Hamburg August 14, 2014 Publication of Q2 Report 2014 November 14, 2014 Publication of Q3 Report 2014 </pre> Contact: H&R AG, Investor Relations / Kommunikation, Ties Kaiser Neuenkirchener Straße 8, 48499 Salzbergen Phone.: +49 40 43218-321, Fax: +49 40 43218-390 Mail: Ties.Kaiser@hur.com www.hur.com H&R AG is a Prime Standard listed specialist chemicals company. It develops and manufactures crude oil-based chemical and pharmaceutical products and high-precision plastic parts. Forward-looking statements and forecasts: This press release contains forward-looking statements. These statements are based on current estimates and forecasts made by the Executive Board and the information available to the Board at this time. Forward-looking statements should not be interpreted as guarantees that the projected future developments and results will materialise. Future developments and results are dependent on a range of factors. They comprise various risks and imponderables and rest on assumptions which may prove incorrect. We do not accept any obligation to update the forward-looking statements made in this ad-hoc communication. End of Corporate News --------------------------------------------------------------------- 09.05.2014 Dissemination of a Corporate News, transmitted by DGAP - a company of EQS Group AG. The issuer is solely responsible for the content of this announcement. DGAP's Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de --------------------------------------------------------------------- Language: English Company: H&R AG Neuenkirchener Str. 8 48499 Salzbergen Germany Phone: +49 (0)40 43 218 321 Fax: +49 (0)40 43 218 390 E-mail: investor.relations@hur.com Internet: www.hur.com ISIN: DE0007757007 WKN: 775700 Listed: Regulierter Markt in Düsseldorf, Frankfurt (Prime Standard), Hamburg; Freiverkehr in Berlin, Hannover, München, Stuttgart End of News DGAP News-Service --------------------------------------------------------------------- 267445 09.05.2014