H&R AG / Key word(s): Final Results/Forecast 17.12.2014 17:39 Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted by DGAP - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement. --------------------------------------------------------------------------- Ad hoc notification conforming to article 15 of the German law governing the trading of securities (WpHG) WKN: 775700 ISIN: DE 0007757007 H&R AG: Projected full-year result 2014 no longer accessible due to rapidly declining crude oil prices Salzbergen, December 16, 2014. In H&R Aktiengesellschaft's opinion at this time, the company - due to the extremely fast fallen crude oil prices - will not be able to realize its latest earnings forecast (EBITDA) for the year 2014. Pursuant to the rapidly declining oil prices the company's result will be significantly burdened in the fourth quarter of 2014. As a result of the several weeks' long production run, so far unprocessed raw material stocks have been purchased at higher costs than the current market prices. The production costs for the main products and by-products are quite essentially raw material cost driven. Thus, daily material prices are lower than at the time of production planning, which is also a consequence of the duration of the production run. Assuming a stabilization of crude oil quotations at the current level, and based on current knowledge, the Management Board expects this effect on earnings to burden operating profits in fourth quarter 2014 up to a high single-digit millions amount, despite good sales figures and adequate margins on products which have already been sold. Accordingly, the Board believes that the above-mentioned negative effect will exceed the expected good operating performance of H&R AG. The projected EBITDA "significantly above the previous year's figure" of EUR 32.6 million, is - based on the recent status - no longer accessible. The Management Board rather expects, based on the previous assumptions, that EBITDA for the full year 2014 will be approximately in the range between EUR 29 million to EUR 33 million. With stable crude oil prices without the extreme direction of the last few months and a stable global economic environment, the Board expects the company to show a solid earnings development in the next few months. H&R Aktiengesellschaft The Board Contact: H&R AG, Investor Relations / Communication, Ties Kaiser Neuenkirchener StraÃe 8, 48499 Salzbergen Phone.: +49 40 43218-321, Fax: +49 40 43218-390 Mail: Ties.Kaiser@hur.com www.hur.com H&R AG is a Prime Standard 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 ad hoc notification 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 ad-hoc communication. 17.12.2014 The DGAP 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 Listed: Regulierter Markt in Düsseldorf, Frankfurt (Prime Standard), Hamburg; Freiverkehr in Berlin, Hannover, München, Stuttgart End of Announcement DGAP News-Service ---------------------------------------------------------------------------
DGAP-Adhoc: H&R AG: Projected full-year result 2014 no longer accessible due to rapidly declining crude oil prices
| Source: EQS Group AG