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H+H International A/S - Interim financial report Q1 2013

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Company Announcement No. 285, 2013

Copenhagen, Denmark, 2013-05-22 07:57 CEST (GLOBE NEWSWIRE) --  

H+H International A/S
Dampfærgevej 3, 3rd Floor
2100 Copenhagen Ø
Denmark
Telephone: +45 35 27 02 00
www.HplusH.com

 

Key figures for the period 1 January - 31 March 2013

  • First-quarter revenue was DKK 233 million (2012: DKK 273 million).
  • First-quarter EBITDA was a negative DKK 6 million (2012: a positive DKK 4 million).
  • The quarter brought a loss before tax of DKK 36 million (2012: loss of DKK 31 million).
  • Equity at 31 March 2013 was DKK 346 million.
  • Net interest-bearing debt at 31 March 2013 was DKK 615 million.
  • Following the conclusion of negotiations with the unions, it has been decided to close H+H Finland Oy’s factory in Ikaalinen in order to boost overall competitiveness and optimise the capacity utilisation of H+H’s other factories. The Finnish operation has therefore been reclassified as discontinued in H+H’s financial reporting.
  • H+H reiterates its outlook for continuing operations for the 2013 financial year:

           - EBITDA before special items of around DKK 90 million.

    - Free cash flow to be positive in the region of DKK 0-15 million before disposals of assets.

          - Investments in the region of DKK 50 million.

Please see attached pdf file for full version of the report.

 

Kent Arentoft
Chairman of the Board of Directors

Michael T Andersen
CEO

 

For additional information please contact:
Michael T Andersen, CEO, or Niels Eldrup Meidahl, CFO, on telephone +45 35 27 02 00.

This is a translation of the company's announcement in Danish. In case of inconsistency between the Danish text and this English translation, the Danish text will take precedence.

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