H+H International A/S - Interim financial report H1 2014

Company Announcement No. 299, 2014

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| Source: H+H International A/S

Copenhagen, Denmark, 2014-08-20 17:25 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 30 June 2014

  • Second-quarter revenue was DKK 361 million (2013: DKK 369 million). First-half revenue was DKK 651 million (2013: DKK 602 million). First-half organic revenue growth was 8.1%.
  • Second-quarter EBITDA was DKK 49 million (2013: DKK 38 million). First-half EBITDA was DKK 57 million (2013: DKK 32 million).
  • The second quarter brought a profit of DKK 7 million (2013: loss of DKK 2 million) and the first half a loss of DKK 23 million (2013: loss of DKK 79 million).
  • Equity at 30 June 2014 was DKK 255 million.
  • Second-quarter investments were DKK 9 million (2013: DKK 4 million). First-half investments were DKK 22 million (2013: DKK 10 million).
  • Net interest-bearing debt at 30 June 2014 was DKK 595 million (30 June 2013: DKK 570 million).
  • H+H changes its outlook for 2014:
    • Organic revenue growth is upgraded and is now expected to be in the region of 4-8%, against the previously announced 3-6%.
    • EBITDA before special items is upgraded and is now expected to be in the region of DKK 120-135 million for continuing operations, against the previously announced DKK 110-130 million.
    • Investments are still expected to be in the region of DKK 60 million.

 

Quote:
"The second quarter of 2014 showed strong development with EBITDA up DKK 11 million on last year despite lower revenue," says Michael T Andersen, CEO. "The improvement was due primarily to higher average prices and better capacity utilisation in the quarter.”

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.