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 --------------------------------------------------------------------- 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 --------------------------------------------------------------------- 14.08.2012 Dissemination of a Corporate News, transmitted by DGAP - a company of EquityStory 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 Indices: SDAX Listed: Regulierter Markt in Düsseldorf, Frankfurt (Prime Standard), Hamburg; Freiverkehr in Berlin, Hannover, München, Stuttgart End of News DGAP News-Service --------------------------------------------------------------------- 181413 14.08.2012
DGAP-News: H&R AG posts lower earnings for first half of 2012
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