In 2012, Hartmann continued the efforts to increase its competitiveness and
strengthen its market position based on its 'Competitive edge - driving growth'
strategy. These activities have given the company a good platform from which to
reduce the complexity of its organisation and enhance efficiency in both Europe
and North America. Hartmann met its most recent full-year guidance and generated
strong cash flows despite an unsatisfactory decline in profitability in Europe.
CEO Michael Rohde Pedersen on the developments in 2012:
Executing on our strategy, we created a better platform in 2012 from which to
grow and further develop our business in the coming years. The efficiency-
enhancing initiatives and the launch of new products have given Hartmann a
strong position in the battle for customers in the European market, which saw
unsatisfactory trends during the year. Our North American business continues to
generate strong results and more than doubled its operating profit in 2012.
Michael Rohde Pedersen on Hartmann's outlook:
The strategic initiatives we have launched are progressing according to plan and
are expected to generate strong results in the years ahead. For 2013, we expect
to report revenue of DKK 1.5-1.6 billion and a profit margin of 7.5-9.5%.
Highlights
* For 2012, Hartmann generated revenue of DKK 1,544 million (2011: DKK 1,488
million), operating profit* of DKK 114 million (2011: DKK 124 million) and a
profit margin* of 7.4% (2011: 8.3%).
* Hartmann generated strong cash flows from operating activities of DKK 153
million (2011: DKK 155 million) and delivered a return on invested capital
of 17.5% (2011: 17.8%).
* The Board of Directors proposes dividends of DKK 9.50 per share (2011: DKK
9.25 per share), equal to a pay-out ratio of 72%.
* Developments in Europe were unsatisfactory with revenue of DKK 1,277 million
(2011: DKK 1,272 million) and operating profit of DKK 83 million (2011: DKK
133 million), equal to a profit margin of 6.5% (2011: 10.4%).
* In North America, Hartmann's strong growth continued with revenue of DKK
267 million (2011: DKK 216 million) and operating profit of DKK 56 million
(2011: DKK 20 million), corresponding to a profit margin of 20.8% (2011:
9.3%).
* Hartmann launched its new product range, imagic(2®), and created a platform
for streamlining its European production network by closing the group's
manufacturing facility in Finland.
* For 2013, Hartmann expects to report revenue of DKK 1.5-1.6 billion and a
profit margin of 7.5-9.5%.
* References to operating profit refer to operating profit before special items,
and references to profit margin refer to profit margin before special items.
For additional information, please contact:
Michael Rohde Pedersen
CEO
Tel. (+45) 45 97 00 33
[HUG#1683692]
