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H+H International A/S - Interim financial report Q3 2012

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Company Announcement No. 273, 2012

Copenhagen, Denmark, 2012-11-21 08:18 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

 

Key figures for the period 1 January to 30 September 2012

  • Third-quarter revenue was DKK 369 million (2011: DKK 367 million). Revenue for the first three quarters was DKK 1,033 million (2011: DKK 998 million).
  • Third-quarter EBITDA was DKK 34 million (2011: DKK 37 million). EBITDA for the first three quarters was DKK 66 million (2011: DKK 71 million).
  • The third quarter brought a loss before tax from continuing operations of DKK 49 million (2011: profit of DKK 1 million), and the first three quarters a loss of DKK 84 million (2011: loss of DKK 38 million). The result was adversely affected by impairments in Eastern Europe of DKK 46.4 million in connection with the sale of the shares in H+H Česká republika s.r.o.
  • Equity at 30 September 2012 was DKK 483 million.
  • Net interest-bearing debt at 30 September 2012 was DKK 653 million. Net interest-bearing debt will be reduced by more than DKK 100 million following the completion of the sale of Česká republika s.r.o. on 31 October 2012.
  • H+H reiterates its outlook for EBITDA before special items for the 2012 financial year of around DKK 90-110 million for continuing operations as announced in the first-half report.
  • H+H reiterates its outlook for free cash flow in 2012, which is expected to be negative in the region of DKK 0-15 million before disposals of assets, as announced in the first-half report. Including the proceeds of the sale of H+H Česká republika s.r.o., free cash flow is expected to be positive in the region of DKK 90-105 million.
  • H+H reiterates its outlook for total investments in 2012 of around DKK 40 million as announced in the first-half report.
  • As reported in Company Announcement Nos. 271 of 21 September 2012 and 272 of 31 October 2012, H+H International A/S has sold all shares in H+H Česká republika s.r.o. to Xella CZ s.r.o., a company in the Xella Group, for DKK 112 million, excluding real estate to be leased to Xella from the completion of the transaction on 31 October 2012. The sale will be recognised in the fourth quarter of 2012.

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

 

Anders C Karlsson
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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