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H+H International A/S - Interim financial report Q1-Q3 2014

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Company Announcement No. 305, 2014

Copenhagen, Denmark, 2014-11-19 13:11 CET (GLOBE NEWSWIRE) --  

H+H International A/S
Dampfærgevej 3, 3rd Floor
2100 Copenhagen Ø
Denmark
Telephone: +45 35 27 02 00
www.HplusH.com
Company reg. no. 49 61 98 12

 

Key figures for the period 1 January to 30 September 2014

  • Third-quarter revenue was DKK 405 million (2013: DKK 377 million). Revenue for the first three quarters was DKK 1,055 million (2013: DKK 978 million). Organic revenue growth in the first three quarters was 7.4%.
  • Third-quarter EBITDA was DKK 51 million (2013: DKK 42 million). EBITDA for the first three quarters was DKK 108 million (2013: DKK 74 million).
  • The third quarter brought a profit of DKK 8 million (2013: DKK 6 million) and the first three quarters a loss of DKK 15 million (2013: loss of DKK 73 million).
  • Third-quarter investments were DKK 5 million (2013: DKK 8 million). Investments in the first three quarters were DKK 27 million (2013: DKK 18 million).
  • Net interest-bearing debt at 30 September 2014 was DKK 523 million (30 September 2013: DKK 528 million).
  • On 9 October 2014 H+H International A/S’s subsidiary H+H Polska Sp. z o.o. signed an agreement with Grupa Ozarow S.A. to acquire 100% of the shares in its Polish aircrete company Grupa Prefabet S.A. for a total consideration of PLN 60 million (DKK 108 million) (enterprise value), of which DKK 40 million will be paid at closing. Closing of the transaction is subject to customary approval by the Polish competition authorities.
  • H+H changes its outlook for 2014:
    • Organic revenue growth is adjusted to be in the region of 6-8%, against previously announced 4-8%.
    • EBITDA before special items is slightly upgraded and is expected to be in the region of DKK 125-140 million for continuing operations, against the previously announced DKK 120-135 million.
    • Investments, excluding the potential acquisition, are reduced and are now expected to be in the region of DKK 45 million, against the previously announced DKK 60 million.

Quote:
"The third quarter of 2014 brought a strong performance with revenue up more than 6% and EBITDA up DKK 9 million on last year," says Michael T Andersen, CEO. "The improvement was due primarily to higher average prices and a strong market in the UK.”
 

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.

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