DGAP-News: H&R WASAG AG posts new record result
(firmenpresse) - DGAP-News: H&R WASAG AG / Key word(s): Preliminary Results
H&R WASAG AG posts new record result
18.02.2011 / 10:00
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H&R WASAG AG posts new record result
- Revenue exceeds EUR1 billion
- Operating result (EBITDA) soars by 57.6% to EUR103.4 million
- EBITDA margin improves to 9.8% (previous year: 8.6%)
(NB: All the figures in this press release are provisional and have not yet
been audited)
Salzbergen, Germany, 18 February 2011 H&R WASAG AG has posted alltime
record figures for the 2010 financial year, generating revenue of
EUR1,056.8 million (previous year: EUR762.3 million) and an operating
result (EBITDA) of EUR103.4 million (previous year: EUR65.6 million). The
EBITDA margin improved to 9.8% (previous year: 8.6%). EBIT grew by 83.4% to
EUR82.0 million (previous year: EUR44.7 million). At EUR52.0 million
(previous year: EUR25.0 million), the consolidated net income attributable
to shareholders more than doubled.
'We were able to run our refineries at almost full capacity throughout the
entire reporting period. The positive development in demand also prompted
higher margins for our petroleum-based specialist products. As announced in
the report for the 3rd quarter of 2010, the Executive Board will propose a
much higher dividend to the Supervisory Board,' said Gert Wendroth, Chief
Executive Officer of H&R WASAG AG.
All segments record better results
Chemical-Pharmaceutical Raw Materials Domestic Segment improved its
operating result by 67.7% to EUR86.7 million (previous year: EUR51.7
million). EBITDA in the international segment reached a new high of
EUR20.7 million (previous year: EUR19.7 million). The restructuring
measures in the Plastics Division bore fruit; following an operating loss
of EUR3.0 million in the previous year, the operating result (EBITDA)
almost broke even at EUR-0.3 million in the 2010 financial year.
Profits expected to rise further following 2011 transition
As expected, the rising prices for raw materials in recent weeks have
normalised the margins for products from the Chemical-Pharmaceutical
Division. Although demand remains good, the company believes it will prove
difficult to repeat last year's record result in the current financial
year.
The new propane deasphalting plant has the potential to contribute an
additional EUR12.0 million to EUR14.0 million annually to the operating
result (EBITDA). Production is scheduled to start in the 4th quarter of
2011. This plant will convert a residue produced during the manufacturing
process into environmentally friendly, mineral oil based speciality
products.
In the coming years, the Plastics Division is also expected to return to
making positive contributions to the consolidated operating result
(EBITDA).
'We therefore anticipate another rise in our operating result for 2012 all
in all following a transitional period in 2011,' said Wendroth.
Upcoming events:
30 March 2011 Publication of final figures 2010
13 May 2011 Publication of Q1 Report 2011
31 May 2011 Annual Shareholders' Meeting in Hamburg
12 August 2011 Publication of Q2 Report 2011
14 November 2011 Publication of Q3 Report 2011
Contact:
H&R WASAG AG, Investor Relations / Communications, Christian Pokropp
Am Sandtorkai 64, 20457 Hamburg, Germany
Phone: +49 (0)40-43218-321, Fax: +49 (0)40-43218-390,
E-mail: Christian.Pokropp(at)hur-wasag.de
www.hur-wasag.com
About H&R WASAG AG:
H&R WASAG AG, a speciality chemicals group, is listed in the SDAX. The
Company develops and produces crude oil-based chemical-pharmaceutical
speciality 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 WASAG AG
Neuenkirchener Str. 8
48499 Salzbergen
Deutschland
Phone: +49 (0)40 43 218 321
Fax: +49 (0)40 43 218 390
E-mail: investor.relations(at)hur-wasag.de
Internet: www.hur-wasag.de
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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112632 18.02.2011
Datum: 18.02.2011 - 10:00 Uhr
Sprache: Deutsch
News-ID 33239
Anzahl Zeichen: 0
contact information:
Kategorie:
Business News
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