Copenhagen, Denmark, 2014-05-22 08:04 CEST (GLOBE NEWSWIRE) --
H+H International A/S
Dampfærgevej 3, 3rd Floor
2100 Copenhagen Ø
Denmark
Telephone: +45 35 27 02 00
www.HplusH.com
Company reg. no. 49 61 98 12
Key figures for the period 1 January to 31 March 2014
- First-quarter revenue was DKK 289 million (2013: DKK 233 million).
- EBITDA was DKK 8 million (2013: loss of DKK 6 million).
- The quarter brought a loss for the period of DKK 30 million (2013: loss of DKK 77 million)
- Equity at 31 March 2014 was DKK 246 million.
- Net interest-bearing debt at 31 March 2014 was DKK 629 million (31 March 2013: DKK 615 million).
- On 22 May 2014, a new committed credit facility running from 30 June 2014 to 15 February 2018 was agreed with Danske Bank A/S.
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H+H reiterates its outlook for 2014:
- Organic growth is expected to be in the region of 3-6%
- EBITDA is expected to be in the region of DKK 110-130 million
- Total investment is expected to be in the region of DKK 60 million
Quote:
"The first quarter of 2014 came in above expectations. Revenue was up around 25% on 2013," says Michael T Andersen, CEO. "The improvement was due primarily to a substantial rise in revenue in all markets except Russia, where there was a smaller increase. Sales were positively impacted by the mild weather in Europe, which has moved construction activity forward, but we also benefited from improved market conditions in the UK".
Please see attached pdf file for full version of the report.
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.
