H&R GmbH & Co. KGaA: Preliminary figures for Q3-2020
DGAP-Ad-hoc: H&R GmbH & Co. KGaA / Key word(s): 9 Month figures/Preliminary Results Insider information pursuant to Article 17 H&R GmbH & Co. KGaA: Preliminary figures for the third quarter of 2020 - Recovery continued in third quarter of 2020 - EBITDA with EUR 14.1 million significantly above previous year - Ongoing improvement of sales volumes since mid-year - Earnings projections of up to EUR 45.0 million EBITDA confirmed Salzbergen, October 22, 2020 H&R GmbH & Co. KGaA (abbrev.: H&R KGaA; ISIN DE000A2E4T77) showed a significant improvement of the company's sales volumes and earnings development at the end of the third quarter of 2020. According to preliminary calculations, the consolidated operating result (EBITDA *) in the third quarter was EUR 14.1 million (Q3-2019: EUR 5.1 million) as a result of the noticeable recovery in our customer markets that began in June / July 2020. It not only significantly exceeded the same quarter of the previous year, but also marked the strongest contribution to operating earnings in 2020. Looking at the entire nine-month period 2020, EBITDA showed a significant decrease compared to the previous year. This was caused by the already weak earnings at mid-year. Coming from overall lower sales revenue (nine months 2020: EUR 649.9 million; nine months 2019: EUR 824.7 million), the company provisionally achieved an operating result (EBITDA) of EUR 30.7 million (nine months 2019: EUR 44.8 million). Higher depreciation weighed on EBIT, which amounted to EUR -6.8 million (nine months 2019: EUR 11.4 million). Earnings before taxes (EBT) showed a comparable trend at EUR -12.8 million (nine months 2019: EUR 5.6 million). The shareholders' net result closed at EUR -14.8 million (nine months 2019: EUR 4.1 million). H&R KGaA thus generated earnings per share of EUR -0.40. With EUR -0.03 in the third quarter of 2020 (nine months 2019: EUR 0.11; Q3-2019: EUR -0.16) this was recently almost balanced. However, positive trends and a more dynamic development have been recorded since mid-2020. Overall, September 2020 turned out to be the most profitable month of the current financial year so far. The ChemPharm Sales segment again made the main contribution to earnings. With EUR 6.5 million in the third quarter and EUR 17.8 million in the nine-month period, our international activities recorded rising, but overall lower operating results during the year (Q3-2019: EUR 7.3 million; nine months 2019: EUR 22.5 million). Sales revenues for the nine-month period remained significantly below the previous year at EUR 229.5 million (nine months 2019: EUR 285.4 million). Operating cash flow noted robust in the nine-month period of 2020. In total, it amounted to EUR 5.2 million in the third quarter of 2020 (Q3-2019: 20.0 million), free cash flow amounted to EUR 0.8 million (Q3-2019: EUR 3.7 million). The federal government's tax policy measures, which strengthened the operating cash flow as of the reporting date, had a particularly favorable effect (Nine months 2020: EUR 44.6 million; nine months 2019: EUR 71.1 million). Free cash flow was EUR 14.4 million after EUR 24.6 million. The balance sheet total decreased from EUR 838.6 million as of December 31, 2019 to EUR 765.7 million. Equity decreased from EUR 363.4 million to EUR 338.5 million in the same period. As of September 30, 2020, the Company's equity ratio was 44.2% (December 31, 2019: 43.3 %). The recovery in our sales volumes and customer orders that we already observed with the publication of the 2020 half-year figures, solidified in the third quarter and is currently also evident in the final quarter. Nevertheless, the currently significant increase in the number of infections in Europe means that any measures that may be introduced could again burden our business and earnings development. H&R therefore remains cautiously optimistic, but for the time being confirms its expectation of an EBITDA of a maximum of EUR 45.0 million. The final financial figures and additional information on business performance to date in 2020 will be published as planned on November 13, 2020 in the quarterly statement. Contact: H&R GmbH & Co. KGaA: Forward-looking statements and forecasts:
22-Oct-2020 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. |
Language: | English |
Company: | H&R GmbH & Co. KGaA |
Neuenkirchener Str. 8 | |
48499 Salzbergen | |
Germany | |
Phone: | +49 (0)40 43 218 321 |
Fax: | +49 (0)40 43 218 390 |
E-mail: | investor.relations@hur.com |
Internet: | www.hur.com |
ISIN: | DE000A2E4T77 |
WKN: | A2E4T7 |
Listed: | Regulated Market in Dusseldorf, Frankfurt (Prime Standard), Hamburg; Regulated Unofficial Market in Berlin, Hanover, Munich, Stuttgart, Tradegate Exchange |
EQS News ID: | 1142456 |
End of Announcement | DGAP News Service |
|
1142456 22-Oct-2020 CET/CEST