H+H International A/S - update on temporarily closed production facility in Borough Green, UK

Company announcement No. 561, 2024

As informed by H+H International A/S (“H+H”) in company announcement no. 560, published 5 July 2024, a routine inspection at H+H UK Limited’s Borough Green production facility led to the unexpected outcome that certification for operating the autoclaves under the UK Pressure Systems Safety Regulations 2000 were withdrawn, leading to an immediate cease of production.

Health and safety is a top priority for H+H. We are working relentlessly on getting production up and running as soon as possible in a safe manner, and remain in continuous dialogue with inspectors to resolve the issue and regain certification within a short timeframe.

Stock of products from the Borough Green facility is expected to run out before the end of this week which will impact service and revenue.  

Until a plan for resolution of the issue is established, it is not possible to estimate when production can resume. Consequently, the total financial impact of the closure of the production cannot be estimated at this point in time.

An update on impact on the 2024 financial guidance, if any, will be provided as soon as more information on the situation, it’s implications and financial impact becomes available.

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H+H’s core activity is the manufacture and sale of wall-building materials with a revenue in 2023 of DKK 2.7 billion. The main product lines are aircrete blocks and calcium silicate units used for the residential new building segment. H+H has factories in Northern and Central Europe and has a leading market position. H+H is listed on the Nasdaq Copenhagen stock exchange.