H+H updates its outlook for 2019

Following strong organic sales growth in the second quarter of 2019 and updated expectations to the second half of 2019, H+H adjusts its outlook for 2019.

Preliminary numbers for the second quarter of 2019:

Besides strong sales, good performance in factory output and successful procurement efforts are contributing to the increased expectations.

The updated outlook for 2019 is:

• Growth before acquisitions and measured in local currencies is expected to be around 8% (previously around 7%).
• EBITDA before special items is expected to be DKK 510-550 million (previously DKK 460-510 million).
• EBIT before special items is expected to be DKK 330-370 million (previously DKK 280-330 million).
• Investments excluding acquisitions and divestments are expected to be in the region of DKK 140 million including investments for establishing a CSU production line near Gdansk, Poland and IFRS 16 effect (previously in the region of DKK 160 million).

H+H will publish the full interim financial report for second quarter of 2019 on 14 August 2019 mid afternoon.

Kent Arentoft                                              Michael T Andersen
Chairman of the Board of Directors             Chief Executive Officer

For further information please contact Michael T Andersen, Chief Executive Officer, or Bjarne Pedersen, Chief Strategy Officer, on telephone +45 35 27 02 00