DGAP-News: H&R AG publishes figures for the first quarter of 2013
(firmenpresse) - DGAP-News: H&R AG / Key word(s): Quarter Results
H&R AG publishes figures for the first quarter of 2013
14.05.2013 / 07:08
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H&R AG publishes figures for the first quarter of 2013
Salzbergen, 14 May 2013. In the first quarter of 2013 H&R AG achieved
distinct sales and earnings improvements as compared to the poor fourth
quarter 2012 performance. However, the Company fell behind the values
recorded in the first quarter of 2012. H&R AG is only likely to see
distinct improvements once the newly defined measures take effect in the
course of the summer.
The working capital management measures have already demonstrated their
initial effects in the first quarter of 2013. The conversion of the
Salzbergen Refinery to contract production will however only contribute the
desired relief in the course of the year. Until the end of March of 2013
the Company's key figures had still been substantially impacted by the
already reported charge factors. Nonetheless, after the painful final
quarter of last year H&R AG is now again recording sales that exceed EUR
300 million, and operating profits (EBITDA) that, at EUR 6 million, are
twice as high as in the fourth quarter of 2012. The Company's cashflow from
operations, which had already substantially improved by the end of last
year, was also strong in the first quarter of 2013, significantly exceeding
that of the same quarter last year.
Changes in Group Segments
In the Chemical-Pharmaceutical Raw Materials - National segment, sales
declined by 10.3 % to EUR 230.7 million (first quarter of 2012: EUR 257.0
million). At EUR 2.9 million, earnings from operations (EBITDA) for the
Division failed to meet the result for the same quarter of last year (EUR
12.2 million). This was again caused by tense base oil prices, which
stabilised in the first quarter, but only started rising again in April of
2013. A positive impetus for earnings should first come into effect in the
second quarter.
In the International Chemical-Pharmaceutical segment, sales declined by
18.0 % to EUR 59.6 million (first quarter of 2012: EUR 72.7 million),
primarily due to lower demand. Because of the overall more stable price
situation, the lower proceeds had a lesser effect on the income statement
than they did in the Company's other segments. At EUR 3.7 million as
compared to EUR 5.3 million in the previous year, the EBITDA figure was
nonetheless lower than in the first quarter of 2012.
The only sales increase in any of the Group's segments was recorded by the
Plastics segment, with growth of 2.3 % to EUR 15.4 million (first quarter
of 2012: EUR 15.0 million). However, the Division's EBITDA declined by EUR
0.4 million (first quarter of 2012: EUR 0.7 million).
Outlook conservative but optimistic
Against the background of the relatively slow start to the current
financial year and the fact that the new measures will only become fully
effective in the course of the year, the outlook is conservative yet
optimistic. 'We are persuaded, in particular, that our updated business
model restores a good balance between risk minimisation and the best use of
our opportunities, and that it will therefore make a sustainable
contribution to the stabilisation of our earnings', says Niels H. Hansen,
Chairman of the Board of H&R AG.
Overall, for 2013 H&R AG counts on Group sales of between EUR 1.1 billion
and EUR 1.3 billion. As concerns the level of earnings from operations, the
Company remains conservative and expects EBITDA to remain at the same level
as in the previous year. According to Hansen, 'We are nonetheless
optimistic as concerns the other earnings categories and expect a better
Group result than that recorded in 2012.'.
For further details, please refer to the Interim Report for the First
Quarter of 2013, published today and available in PDF format under the
Investor Relations tab on www.hur.com.
Overview of the most important key figures for the first quarter of 2013:
H&R Group - Key figures (in EUR 1/1 - 31/ 1/1 - 31/ Change in
million) 3/2013 3/2012 absolute terms
Revenue from sales 301.8 335.3 -33.5
Earnings from operations (EBITDA) 5.9 19.0 -13.1
EBIT -0.3 13.1 -13.4
Earnings before income taxes -3.9 9.3 -13.2
Net loss / income after minority -2.8 6.6 -9.4
interests
Consolidated earnings per share -0.10 0.22 -0.32
(EUR)
Cashflow from operations 45.8 12.2 33.6
Free Cashflow 39.0 7.7 31.3
31/3/2013 31/3/2012 Change in
absolute terms
Balance sheet total 637.0 623.1 13.9
Group equity 213.4 213.3 0.1
Equity ratio (%) 33.5 34.2 N/A
14 May 2013 Publication of the Q1 2013 ReportContact:
23 July 2013. General Meeting of Shareholders in Hamburg
14 August 2013 Publication of the Q2 2013 Report
14 November 2013 Publication of the Q3 2013 Report
H&R AG, Investor Relations / Communications, Ties Kaiser
Neuenkirchener Straße 8, 48499 Salzbergen, Germany
Phone: +49 40 43218-321, Fax: +49 40 43218-390
Email: Ties.Kaiser(at)hur.com
www.hur.com
H&R AG:
H&R AG is an SDAX 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 press release.
End of Corporate News
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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(at)hur.com
Internet: www.hur.com
ISIN: DE0007757007
WKN: 775700
Indices: SDAX
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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210865 14.05.2013
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