Company Announcement No. 190, 2009
H+H International A/S
Dampfærgevej 27-29, 4th Floor
2100 Copenhagen Ø
Denmark
Telephone: +45 35 27 02 00
www.HplusH.com
14 July 2009
Outlook for 2009 lowered - Strengthening of capital base.
A review of the preliminary results for June 2009 shows that there is a strong
likelihood that the result before tax for 2009 will be a larger loss than
anticipated in the most recent outlook for 2009 in which a loss before tax of
DKK 100 million was forecast, see Company Announcement No. 189 dated 28 May
2009.
Both sales volume and selling prices have been lower in all geographical
markets than previously expected for the first half of 2009, and there are no
indications that markets will pick up in the second half of 2009.
Management will give a more precise outlook for 2009 no later than in
connection with the planned publication of the interim financial report for the
first half of 2009 on 26 August 2009.
As a result of the continued decline in earnings, the Supervisory Board has
decided to initiate a process aimed at strengthening the capital base. The
company has appointed SEB Enskilda Corporate Finance as adviser in connection
with this process.
Anders C. Karlsson
Chairman of the Supervisory Board
Hans Gormsen
CEO
For additional information please contact:
Hans Gormsen, CEO, 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 shall prevail.
