Q1 2012 was a good quarter for Hartmann. Intensified price competition on
Hartmann's European markets underlines the significance of a continued strategic
focus on optimising production and strengthening customer relations. The North
American market continued to see positive trends, and Hartmann's North American
business generated strong results. Hartmann retains its full-year forecast for
2012 of revenue on a level with 2011 (DKK 1.5 billion) and a profit margin of
7.5-9%.
CEO Michael Rohde Pedersen on Hartmann's performance in Q1 2012:
We are very pleased with our performance in the first three months of the year,
the highlight of which was our North American business reporting its best ever
performance. We retained our strategic focus on product optimisation and our
commitment to increasing the proportion of high-value packaging. This provided
the platform for our strong performance in North America and for our strong
position in the increasingly price-competitive environment in Europe.
Michael Rohde Pedersen on Hartmann's outlook:
We retain our full-year forecast for 2012 of revenue of approximately DKK 1.5
billion and a profit margin of 7.5-9%. Our forecast is based on the positive
development in Q1 2012 and an assumption that the intensified price competition
in Europe will persist in the near future.
Highlights
* Hartmann reported revenue for Q1 2012 of DKK 412 million (2011: DKK 375
million) and operating profit* of DKK 45 million (2011: DKK 36 million),
equalling a profit margin* of 11.0% (2011: 9.5%)
* Hartmann's cash flows from operating and investing activities increased,
resulting in a net inflow of DKK 42 million for Q1 2012 (2011: a net inflow
of DKK 38 million)
* Return on invested capital also developed favourably and stood at 19% at 31
March 2012 (2011: 9%)
* Hartmann's European business reported revenue of DKK 344 million for Q1
2012 (2011: DKK 322 million) and operating profit of DKK 36 million (2011:
DKK 39 million)
* For North America, Hartmann reported revenue of DKK 67 million (2011: DKK
53 million) and operating profit of DKK 16 million (2011: DKK 4 million)
* Hartmann maintains its full-year revenue forecast for 2012 of revenue on a
level with 2011 (DKK 1.5 billion) and a profit margin of 7.5-9%
For additional information, please contact:
Michael Rohde Pedersen
CEO
Tel. (+45) 45 97 00 33
[HUG#1611720]
