H&R WASAG AG / Forecast/Results Forecast 12.02.2008 Release of an Ad hoc announcement according to § 15 WpHG, transmitted by DGAP - a company of EquityStory AG. The issuer is solely responsible for the content of this announcement. --------------------------------------------------------------------------- H&R Wasag AG revises 2008 forecast Hamburg, February 12, 2008: H&R Wasag AG, Salzbergen, is revising its forecast for 2008 against the background of current crude oil price development, normalization of margins for finished products and higher energy costs. While the 55 million operating pre-tax result forecast for 2007 (adjusted for the sale of the Explosives Division) is reaffirmed, the corresponding result forecast for 2008 is revised to between 50 million and 60 million. On the basis of anticipated sales prices with customers and of reduced quantities as a result of downtimes due to the expansion investments, H&R Wasag anticipates higher second-half earnings after a weaker first quarter. This planning is based on an expected crude oil price level of US$ 90 per barrel (Brent) and an accordingly stable price delta of indices that are relevant for many finished product prices (e.g. the ICIS reports for base oils). This forecast is therefore adjusted for the windfall profits earned in recent years. H&R Wasag anticipates strong sales growth in FY 2008 by about 200 million to around 1 billion. In view of the promising prospects the Board of Directors has decided to invest a further 15 million in the Project 40 capacity expansion project. With an investment volume increased to 70 million a new distillation unit is now to be built in Salzbergen in 2009. Originally, only an expansion and optimization of the existing plant was planned. The new plant will make a substantial contribution toward flexibilization of raw material input and product diversification and is an important step in making the company more independent of the development of price indices such as those for base oils. In 2008, Project 40 alone is expected to make an EBT-based earnings contribution of 9 million, followed by 14 million in 2009 and around 20 million in 2010. Contact: H&R WASAG AG, Investor Relations / Communications, Christian Pokropp Am Sandtorkai 64, 20457 Hamburg, Germany Tel.: +49 - (0) 40-43218-321, Fax: +49 (0) 40-43218-390, Mail: Christian.Pokropp@hur-wasag.de www.hur-wasag.com DGAP 12.02.2008 --------------------------------------------------------------------------- Language: English Issuer: H&R WASAG AG Neuenkirchener Str. 8 48499 Salzbergen Deutschland Phone: +49 (0)5976 9453 - 01 Fax: +49 (0)5976 9453 - 08 E-mail: investor.relations@hur-wasag.de Internet: www.hur-wasag.de ISIN: DE0007757007 WKN: 775700 Indices: SDAX Listed: Regulierter Markt in Frankfurt (Prime Standard), Hamburg, Düsseldorf; Freiverkehr in Berlin, Hannover, München, Stuttgart End of News DGAP News-Service ---------------------------------------------------------------------------
DGAP-Adhoc: H&R WASAG AG revises 2008 forecast
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