DGAP-News: H&R AG / Key word(s): Half Year Results
H&R AG posts lower earnings for first half of 2012
14.08.2012 / 06:59
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H&R AG posts lower earnings for first half of 2012
- Revenue up 7.5% to EURO 640.1 million
- Earnings growth at Chemical-Pharmaceutical Segment International
- Full-year earnings forecast adjusted
Salzbergen, Germany, 14 August 2012. H&R AG generated a consolidated
operating result (EBITDA) of EURO 26.0 million in the first half of 2012
(1st half of 2011: EURO 56.0 million). The lower figure is primarily
attributable to rising raw material costs, which cannot be passed on to the
market immediately. EBIT shrank by 68.4% to EURO 14.3 million as a result
(1st half of 2011: EURO 45.2 million). The consolidated net income
attributable to shareholders fell by 85.8% to EURO 4.1 million, following
EURO 28.8 million in the same period of the previous year. By publishing
these figures in its half-yearly report, H&R AG has confirmed all the
preliminary key figures previously announced in an ad-hoc statement.
Segments with disparate earnings trends
In the largest Group segment, Chemical-Pharmaceutical Raw Materials
Domestic, revenue rose 5.4% to EURO 491.5 million (1st half of 2011: EURO
466.2 million). This trend was driven by prices. However, raw material
costs climbed even faster than product prices, temporarily prompting a
sharp contraction in product margins. Because of this, the segment's
operating result (EBITDA) fell a long way short of the very good EURO 45.4
million posted for the first six months of 2011, coming in at EURO 17.3
million.
As in the domestic segment, the 11.9% increase in the international
segment's revenue to EURO 136.6 million (1st half of 2011: EURO 122.1
million) was largely triggered by higher prices. Because high-quality crude
oil-based speciality products account for a larger percentage of this
segment's product portfolio, rising raw material prices have less of an
impact here than in the domestic segment. The foreign subsidiaries -
especially the companies in Asia - also continue to benefit from good
economic developments at the regional level. As a consequence, the
operating result (EBITDA) posted by the international segment rose by 7.9%
in the 1st half of 2012 to come in at EURO 9.6 million, having stood at
EURO 8.9 million a year earlier.
Revenue experienced the sharpest rise in the Plastics Segment with growth
of 16.3% to EURO 29.3 million (1st half of 2011: EURO 25.2 million). By way
of contrast to the Chemical-Pharmaceutical Segments, the increase in
revenue at the Plastics Division was largely attributable to higher volumes
thanks to strong demand. The segment's first-half operating result (EBITDA)
of EURO 0.6 million for 2012 was lower than last year's figure of EURO 1.3
million, however. Non-recurring expenses resulting from the expansion of
capacity at the Czech site were the main reason behind this decrease.
Full-year earnings forecast adjusted
Earnings are expected to increase again at both operating divisions this
quarter. Due to the weaker first half of 2012 and in light of the
continuing economic uncertainty, the operating result (EBITDA) for 2012 as
a whole is expected to be noticeably lower than that of the previous year
(EURO 89.1 million). Our forecast of achieving revenue between EURO 1.1
billion and EURO 1.3 billion for the 2012 financial year remains unchanged.
Detailed information on the latest developments can be found in the report
for the second quarter of 2012, which is available online at www.hur.com
under H&R AG.
Upcoming dates:
14th November 2012 Q3 Interim Report 2012
20th February 2013 Preliminary figures for the financial year 2012
Press and Analysts' conference
29th March 2013 Final figures for the financial year 2012
14th May 2013 Q1 Interim Report 2013
Contact:
H&R AG, Investor Relations/Communications, Christian Pokropp
Neuenkirchener StraÃe 8, 48499 Salzbergen, Germany
Phone: +49 (0) 40 43218-321, Fax: +49 (0) 40 43218-390
Email: Christian.Pokropp@hur.com
www.hur.com
H&R AG:
H&R AG is an SDAX 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 press release.
End of Corporate News
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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
Indices: SDAX
Listed: Regulierter Markt in Düsseldorf, Frankfurt (Prime
Standard), Hamburg; Freiverkehr in Berlin, Hannover,
München, Stuttgart
End of News DGAP News-Service
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181413 14.08.2012
DGAP-News: H&R AG posts lower earnings for first half of 2012
| Source: EQS Group AG