- Revenues for 1Q 2005 totalled DKKm 429, which is on a par with the year-earlier level of DKKm 433.
- Operating profit for 1Q 2005 came to DKKm 18, up DKKm 23 from the year-earlier level of DKKm -5.
- North America posted a negative operating result of DKKm 18 for 1Q 2005, almost halving the loss posted in 1Q 2004 (DKKm -34).
As announced on 25 April 2005, a new 3-year
wage agreement has been signed with the
blue-collar workers at the production facility in
Canada. The outcome of the bargaining is deemed
satisfactory - in addition to being crucial to the
Group's efforts to achieve the
necessary improvement in result, it is also a
precondition for the fulfilment of the profit
forecast for 2005.
wage agreement has been signed with the
blue-collar workers at the production facility in
Canada. The outcome of the bargaining is deemed
satisfactory - in addition to being crucial to the
Group's efforts to achieve the
necessary improvement in result, it is also a
precondition for the fulfilment of the profit
forecast for 2005.
- In the period in review, Hartmann sold its shareholdings in Celulosas Moldeadas Hartmann S.A., Spain and Duales System Deutschland AG, resulting in a total accounting gain of DKKm 23 and a positive effect on liquidity of DKKm 34. The accounting gain will not affect the amount in operating profit, but will be included in the net result for the period.
- Net profit for 1Q 2005 came to DKKm 30 against a deficit of DKKm 8 in the same period last year. The amount in net profit reflects the improvement in operating profit as well as the above sale of shareholdings.
- Due to seasonal fluctuations in working capital, cash flows from operating and investment activities in 1Q 2005 were negative in an amount of DKKm 2 against a negative amount of DKKm 30 in the same period last year.
- Hartmann maintains the outlook for 2005 announced in the Group's Annual Report 2004
For further information please contact:
Asger Domino
President & CEO
Brødrene Hartmann A/S
Tel.: : +45 45 87 50 30
The full report with tables can be downloaded from the following link:
