Copenhagen, Denmark, 2014-03-14 08:00 CET (GLOBE NEWSWIRE) --
H+H International A/S
Dampfærgevej 3, 3rd Floor
2100 Copenhagen Ø
Denmark
Telephone: +45 35 27 02 00
www.HplusH.com
CVR No. 49 61 98 12
Highlights
- Revenue of DKK 1,260 million and organic growth of 10%.
- EBITDA of DKK 94 million in line with our guidance.
- Free cash flow of DKK 28 million in line with our upgraded guidance.
- Our excellence programme was again successful and has resulted in average annual savings in production over the last three years of around DKK 20 million.
- To improve earnings, the factory in Finland was closed in April 2013, and it was decided to shut down production temporarily at the factory in Skawina, Poland.
- Xella was denied permission to merge with H+H in the German market.
- The new organisation was fully implemented, and a new strategic plan is in place: Creating value through profitable growth.
- Outlook for 2014: Organic revenue growth is expected to be in the region of 3-6%. EBITDA is expected to be in the region of DKK 110-130 million. Investments are expected to be in the region of DKK 60 million.
Please see attached PDF for the full version in English of the Annual Report 2013.
An extract in Danish is available at www.HplusH.com.
Kent Arentoft
Chairman of the Board of Directors
Michael T Andersen
CEO
For additional information please contact:
Michael T Andersen, CEO, or Niels Eldrup Meidahl, CFO, on telephone +45 35 27 02 00.
