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H+H International A/S - Interim financial report Q1-Q3 2016

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Company Announcement No. 343, 2016

Copenhagen, Denmark, 2016-11-18 08:00 CET (GLOBE NEWSWIRE) --  

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

 

Highlights for the period Q1-Q3 2016

  • Revenue for the third quarter increased by 4% in local currencies (organic growth) and decreased by 5% in Danish kroner to DKK 438.7 million. Revenue for the first three quarters increased by 8% in local currencies (organic growth) and by 1% in Danish kroner to DKK 1,264.1 million.
  • EBITDA before special items for the third quarter was DKK 63.7 million (2015: DKK 62.7 million). EBITDA for the first three quarters was DKK 166.1 million before special items (2015: DKK 141.0 million).
  • EBIT before special items for the third quarter was DKK 44.9 million (2015: DKK 37.6 million). The EBIT was DKK 104.8 million before special items for the first three quarters (2015: DKK 68.8 million). EBIT margin before special items for the third quarter was 10.2% (2015: 8.2%), and EBIT margin before special items for the first three quarters was 8.3% (2015: 5.5%).
  • The third quarter brought a net profit of DKK 31.6 million (2015: DKK 4.3 million). Net profit for the first three quarters reached DKK 61.7 million (2015: 30.0 million).
  • Investments of DKK 23.0 million were made in the third quarter (2015: DKK 14.2 million) and DKK 38.2 million in the first three quarters of the year (2015: DKK 39.9 million).
  • Free cash flow for the third quarter was DKK 50.9 million (2015: DKK 84.4 million), and for the first three quarters DKK 75.5 million (2015: DKK 14.0 million).
  • Net interest-bearing debt at 30 September 2016 was DKK 385.0 million (30 September 2015: DKK 476 million).
  • H+H reiterates its outlook for 2016. Organic revenue growth is expected to be 5-6% (measured in local currencies), and EBITDA before special items is expected to be DKK 190-210 million. Investments excluding acquisitions and divestments are expected to be in the region of DKK 80 million.

Quote:
“We continue to see progress across our markets, and despite the headwind from the decline in the GBP, our earnings have improved over last year”, says Michael T Andersen, CEO. “The positive market development supports our pricing strategy, and in combination with cost containment, we have mitigated the external negative factors from adverse currency effect and increase in raw material costs in the UK.”

Please see attached PDF 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 Bjarne Pedersen, Vice President, Business Development & IR, tel.: +45 35 27 02 00.

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