DGAP-News: H&R WASAG AG posts best quarterly earnings in company's history
(firmenpresse) - DGAP-News: H&R WASAG AG / Key word(s): Quarter Results
H&R WASAG AG posts best quarterly earnings in company's history
13.05.2011 / 06:59
---------------------------------------------------------------------
H&R WASAG AG posts best quarterly earnings in company's history
Salzbergen, Germany, 13 May 2011: In its report for the 1st quarter of
2011, H&R WASAG AG has confirmed all the preliminary key figures previously
published in an ad-hoc statement. In accordance with this, H&R WASAG AG
posted a new record operating result (EBITDA) of EUR34.7 million (Q1 2010:
EUR24.2 million). EBIT also rose 51.0%, coming in at EUR29.3 million (Q1
2010: EUR19.4 million). The consolidated net income attributable to H&R
WASAG AG shareholders climbed by 60.3% to EUR19.4 million, compared to
EUR12.1 million in the first three months of 2010.
'Thanks to the economic upturn, we were able to profit from strong demand
for our products worldwide. However, the margins for our mineral oil-based
speciality products shrank dramatically due to a sharp rise in raw
materials costs. Further price adjustments were therefore unavoidable,'
said Gert Wendroth, Chief Executive Officer at H&R WASAG AG.
Double-digit growth rates for both divisions
At the Chemical-Pharmaceutical Division, which largely defines Group
earnings, the operating result (EBITDA) increased by 41.2% to EUR34.3
million (Q1 2010: EUR24.3 million). Even stronger growth was recorded at
the smaller Plastics Division thanks to improvements in incoming orders,
especially from clients in the automotive industry. The operating result
(EBITDA) here doubled to EUR0.6 million (Q1 2010: EUR0.3 million).
Construction of the propane deasphalting unit to be completed on target
The construction work for the largest investment project in the company's
history - a propane deasphalting unit at the Hamburg refinery - has entered
its final phase. It even looks as if the company will come in well below
its original investment budget of EUR55.0 million for the unit. Following
extensive testing, the unit is due to start converting the residue
produced during the manufacturing process into high-quality, mineral
oil-based speciality products in the 4th quarter of 2011. The company
expects this unit to contribute an additional EUR12.0 million to EUR14.0
million to earnings (EBITDA) on an annual basis.
Three-digit operating result within reach again
The outlook for the full year remains positive. Although it seems unlikely
that we will be able to repeat our three-monthly operating result (EBITDA)
in subsequent quarters, we believe that the excellent start to 2011 puts
another three-digit full-year operating result at Group level (EBITDA in
EUR million) within reach - despite the highly volatile current prices for
raw materials and products.
More detailed information concerning the current development can be found
in the Q1 interim report online at www.hur-wasag.com.
The next scheduled dates:
31st May 2011 Shareholders' Meeting in Hamburg
12th August 2011 Publication of the 2nd quarterly report for 2011
14th November 2011 Publication of the 3rd quarterly report for 2011
Contact:
H&R WASAG AG, Investor Relations / Communications, Christian Pokropp
Neuenkirchener Straße 8, 48499 Salzbergen, Germany
Phone: 0049 (0)40-43218-321, Fax: 0049 (0)40-43218-390
Email: Christian.Pokropp(at)hur-wasag.de
www.hur-wasag.com
H&R WASAG AG:
The SDAX-listed company H&R WASAG AG is active in the fields of development
and manufacture of chemical-pharmaceutical specialty products based on
crude oil, and in the production of precision plastic parts.
Forward-looking statements and forecasts:
This press release contains forward-looking statements. These statements
are based upon current estimates and forecasts of the executive board as
well as information that are available to the executive board at this point
in time. They are not to be taken as guarantees of future developments and
results. The future developments and results are much more dependent upon
many factors. They contain various risks and uncertainties and are based
upon assumptions that may prove to be inaccurate. We assume no obligation
to update the forward-looking statements contained in this report.
End of Corporate News
---------------------------------------------------------------------
13.05.2011 Dissemination of a Corporate News, transmitted by DGAP - a
company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
DGAP's Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
---------------------------------------------------------------------
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
---------------------------------------------------------------------
124295 13.05.2011
Datum: 13.05.2011 - 06:59 Uhr
Sprache: Deutsch
News-ID 34084
Anzahl Zeichen: 0
contact information:
Kategorie:
Business News
Diese Pressemitteilung wurde bisher 244 mal aufgerufen.
Die Pressemitteilung mit dem Titel:
"DGAP-News: H&R WASAG AG posts best quarterly earnings in company's history"
steht unter der journalistisch-redaktionellen Verantwortung von
H&R WASAG AG (Nachricht senden)
Beachten Sie bitte die weiteren Informationen zum Haftungsauschluß (gemäß TMG - TeleMedianGesetz) und dem Datenschutz (gemäß der DSGVO).
