Interim financial report for Q1-Q3 2019
“The strong operational performance delivers significant margin improvements and strong financial results”, says CEO Michael T. Andersen. “We see continued strong earnings for this year despite a slowdown in the German market. We are content with our strong financial position and will continue to focus on developing our core markets.”
Highlights for the period 1 January to 30 September 2019
| DKK million | Q3 2019 | Q3 2018 | Q1-Q3 2019 | Q1-Q3 2018 |
| Revenue | 779 | 720 | 2,215 | 1,863 |
| Organic growth | 5% | 21% | 10% | 15% |
| EBITDA before special items | 182 | 143 | 435 | 300 |
| EBIT before special items | 137 | 103 | 306 | 185 |
| EBIT margin before special items | 18% | 14% | 14% | 10% |
| NIBD/EBITDA ratio before special items | 0.9 | 1.9 | 0.9 | 1.9 |
| Special items | 0 | 16 | 0 | 39 |
| Free cash flow excluding acquisitions and divestments | 136 | 131 | 175 | 156 |
Other highlights
- H+H International A/S has on 31 October 2019 closed the deal with LSR concerning divestment of its activities in Russia (100% of the shares in OOO H+H).
Outlook for 2019
H+H updates its outlook for 2019:
- Growth before acquisitions and measured in local currencies is expected to be around 6% (previously around 8%).
- EBITDA before special items is expected to be DKK 525-545 million (previously DKK 510-550 million).
- EBIT before special items is expected to be DKK 345-365 million (previously DKK 330-370 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 (unchanged).
Investor teleconference
H+H International A/S will host an investor teleconference on 13 November 2019 at 16:30 CET.
To attend the conference call, please see details below.
DK: +4578150109
UK: +443333009273
US: +16467224902
For further information please contact:
Michael T Andersen, CEO, or Bjarne Pedersen, CSO, on telephone +45 35 27 02 00.
H+H’s core activity is the manufacture and sale of wall building materials, with a revenue in 2018 of DKK 2.5 billion. The main product lines are aircrete blocks and calcium silicate units used for the residential new building segment. H+H has 28 factories in Northern and Central Europe with a total output of more than 4 million cubic metres of products annually and has a leading position in most of its markets. H+H has more than 1,600 employees and is listed on Nasdaq Copenhagen.