DGAP-News: H&R AG / Key word(s): Quarter Results
H&R AG publishes first quarter 2014 results
09.05.2014 / 07:07
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Press Release
H&R AG finishes Q1 2014 distinctly above previous year's equivalent quarter
results
Salzbergen, May 09, 2014. In the first quarter of 2014, H&R AG achieved
improved operating results (EBITDA). At EUR7.7 million, the first quarter
surpassed the results of the comparable first quarter of 2013 by almost
31%. This achievement was accomplished although Group sales for the first
three months were, at EUR282.6 million, 6.4% lower than in the previous
year.
In the first three months of financial 2014, Group sales of EUR 282.6
million were achieved, thus less than at the start of 2013 (first quarter
of 2013: EUR 301.8 million). At the same time, the operating result
improved significantly. To a great extent, this profits trend reflects the
effects from the conversion to contract production of the Salzbergen site.
At similar or even lower sales proceeds, the new configuration supports
more stable profit contributions.
Changes in Group Divisions
In the Group's Chemical-Pharmaceutical Raw Materials - National, sales
declined by 4.9% to EUR 219.3 million (first quarter of 2013: EUR 230.7
million). At the same time, with almost stable raw materials prices and
consistently weak base oil prices, earnings from operations (EBITDA) in
this segment improved to EUR5.5 million from EUR2.9 million). Base oil
prices, which have been rising since March, could provide positive
incentives for the segment in the further course of the year.
In the International Chemical-Pharmaceutical Division, the decline in sales
of 10.6% to EUR 53.3 million (first quarter of 2013: EUR 59.6 million) was
somewhat more evident. Because of the tense pricing situation, at the same
level of sales, almost all subsidiaries remained below their sales
contribution as compared to the prior year. The profits level especially
reflected foreign exchange effects, leading to an operating result (EBITDA)
of EUR 3.4 million, slightly weaker than the EUR 3.7 million in the same
period of the prior year.
Another sales decline was recorded in the Plastics segment: At EUR 14.1
million (Q1 2013: EUR 15.4 million), EBITDA receded with a deficit of EUR
0.6 million (Q1 2013: EUR 0.4 million). The improved figures from the
international sites could not compensate for the negative effects in
Germany.
Forecast for 2014 confirmed
In spite of the improved start to the year as compared to the equivalent
quarter of last year, at the beginning of 2014 H&R AG was below the results
contribution of the third and fourth quarter of 2013. Due to the currently
positive trend in market prices as well as the measures introduced by the
company, the company considers the earnings level being aimed at still
within reach. At the same time, the Board also expects positive incentives
resulting from the overall economic development and market trends.
For further details, please refer to the Interim Report for the First
Quarter of 2014, published today and available in PDF format under the
Investor Relations tab on www.hur.com.
<pre>
H&R Group - Key figures (in EUR 1/1/ - 31/3/ 1/1/ - 31/3/ Variance
million) 2014 2013
Revenue 282.6 301.8 -19.2
Operating result (EBITDA) 7.7 5.9 1.8
EBIT 2.1 -0.3 2.4
Earnings before taxes -1.6 -3.9 2.3
Group deficit/surplus after minority -1.1 -2.8 1.7
interests
Group earnings per share (EUR) -0.04 -0.10 0.06
Operating Cash Flow -29.6 45.8 -75.4
Free cash flow -32.5 39.0 -71.5
31/3/2014 31/12/2013 Variance
Balance sheet total 562.9 594.7 -31.8
Equity 187.9 189.2 -1.3
Equity ratio (%) 33.4 31.8 1.6
</pre>
<pre>
May 9, 2014 Publication of Q1 Report 2014
May 13, 2014 Annual Shareholders' Meeting Hamburg
August 14, 2014 Publication of Q2 Report 2014
November 14, 2014 Publication of Q3 Report 2014
</pre>
Contact:
H&R AG, Investor Relations / Kommunikation, 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 press release 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.
End of Corporate News
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09.05.2014 Dissemination of a Corporate News, transmitted by DGAP - a
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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 News DGAP News-Service
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267445 09.05.2014
DGAP-News: H&R AG publishes first quarter 2014 results
| Quelle: EQS Group AG