Copenhagen, Denmark, 2015-11-18 12:21 CET (GLOBE NEWSWIRE) --
H+H International A/S
Dampfærgevej 3, 3rd Floor
2100 Copenhagen Ø
Denmark
Tel.: +45 35 27 02 00
www.HplusH.com
Company reg. no. 49 61 98 12
Highlights for the period 1 January to 30 September 2015
- Third-quarter revenue was DKK 460 million (2014: DKK 405 million). Organic revenue growth was 6% (adjusted for acquisitions and measured in local currency). Revenue for the first three quarters was DKK 1,246 million (2014: DKK 1,055 million). Organic revenue growth for the first three quarters was 9%.
- Third-quarter EBITDA was DKK 62.7 million before special items (2014: DKK 52.2 million). EBITDA for the first three quarters was DKK 141.0 million before special items (2014: DKK 110.1 million).
- EBIT for the third quarter was DKK 37.2 million (2014: DKK 29.9 million). The EBIT margin before special items was 8.2%. EBIT for the first three quarters was DKK 96.8 million (2014: DKK 43.2 million). The EBIT margin before special items for the first three quarters was 5.5%.
- The third quarter brought a net profit of DKK 4.3 million (2014: DKK 7.8 million), and the first three quarters a net profit of DKK 30.0 million (2014: loss of DKK 15.0 million).
- Investments of DKK 14.2 million were made in the third quarter (2014: DKK 5.4 million), and DKK 39.9 million in the first three quarters (2014: DKK 27.2 million).
- The integration of Grupa Prefabet is running to schedule.
- Net interest-bearing debt at 30 September 2015 was DKK 476 million (30 September 2014: DKK 523 million).
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H+H updates its outlook for 2015:
- Organic revenue growth is expected to be in the region of 10%, as previously announced.
- EBITDA before special items is expected to be DKK 170-180 million, against the previously announced DKK 160-180 million.
- EBIT margin is expected to be in the region of 5%, against the previously announced 4-5%.
- Investments excluding acquisitions and divestments are expected to be DKK 60 million, including DKK 20 million to support the restructuring in Poland, as previously announced.
"Our market performance has been positive in all markets except Russia," says Michael T Andersen, CEO. "We are improving the business, and the balance sheet reflects this. We have been able to deliver free cash flow of almost DKK 100 million, and our debt is at its lowest level since 2007.”
Please see attached PDF 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 Bjarne Pedersen, Vice President, Business Development & IR, tel.: +45 35 27 02 00.
