DGAP-News: H&R GmbH & Co. KGaA / Key word(s): Half Year Results
H&R GmbH & Co. KGaA confirms business trend for the first half of 2019
- EBITDA at around EUR 40 million
Salzbergen, August 15, 2019. H&R GmbH & Co. KGaA (abbrev.: H&R KGaA, ISIN DE000A2E4T77) ended the first half of 2019 with an operating result (EBITDA*) of EUR 39.7 million (first half of 2018: 41.2 million) slightly weaker than in the same period of the previous year. EBIT amounted to EUR 18.0 million as a result of this year's higher depreciation (first half of 2018: EUR 24.4 million), Net profit to shareholders closed at EUR 14.0 million. Earnings per share amounted to EUR 0.27.
After stronger sales revenues at the year's start, sales decreased in the second quarter, partly due to lower volumes and lower raw material prices. With EUR 550.0 million sales revenues for the first half of 2019 ended close to the previous year's figure (first half of 2018): EUR 550.3 million).
Overview of the main key figures:
* Consolidated income before tax, other financial income and expenses and depreciation/amortization, impairment and appreciation of fixed assets and property, plant and equipment
Only two of our segments contributed positively to this result. In total, in the largest Group segment, REFINING, we recorded sales of EUR 345.4 million in the first six months of 2019, with a volume of EUR 161.8 million for the second quarter of 2019 (first half of 2018: EUR 347.5 million; second quarter of 2018: EUR 172.2 million). At EUR 22.9 million, the segment's operating income (EBITDA) for the first half of the year was below the prior-year figure (first half of 2018: EUR 25.2 million). Seen separately for the second quarter of 2019, the operating income of EUR 9.5 million slightly exceeded the prior-year quarter (Q2 2018: EUR 9.4 million).
In the SALES segment, this year's sales for the first half of the year were significantly higher at EUR 188.0 million (first half of 2018: EUR 177.1 million), while the second quarter of 2019 remained slightly weaker at EUR 94.2 million (second quarter of 2019: EUR 95.0 million). EBITDA for both the second quarter (EUR 8.2 million) and the first half of the year (EUR 15.2 million), on the other hand, exceeded the comparable figures for the previous year (first half of 2018): EUR 14.8 million; second quarter of 2018: EUR 7.5 million).
For the first time in years, the PLASTICS segment generated no positive EBITDA, both at the quarterly level as well as in the first half of 2019. It achieved EUR -0.4 million and EUR -0.5 million respectively (Q2-2018: EUR 1.4 million; first half of 2018: EUR 2.7 million). At EUR 10.4 million and EUR 22.0 million, respectively, revenues also dropped significantly year-on-year (Q2-2018: EUR 15.2 million; first half of 2018: EUR 30.4 million).
Overall, the company closed the first half of 2019 robustly, in some cases also on a year-on-year basis. Nevertheless, the statements of other market participants, whether from the automotive or chemical sector, as well as from our own customers, confirm our assessment that our more optimistic annual forecast of EUR 75.0 to EUR 90.0 million will be difficult to achieve under the given global economic conditions. On the basis of the information currently available to us, we expect to achieve EBITDA of up to EUR 75.0 million.
For detailed statements on the current and further trends in business performance and earnings, the company refers to the six-month report as of 30 June 2019 published today, which is available for download at www.hur.com in the "Publications" section of H&R KGaA.
Forward-looking statements and forecasts:
15.08.2019 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
|Company:||H&R GmbH & Co. KGaA|
|Neuenkirchener Str. 8|
|Phone:||+49 (0)40 43 218 321|
|Fax:||+49 (0)40 43 218 390|
|Listed:||Regulated Market in Dusseldorf, Frankfurt (Prime Standard), Hamburg; Regulated Unofficial Market in Berlin, Hanover, Munich, Stuttgart, Tradegate Exchange|
|EQS News ID:||857853|
|End of News||DGAP News Service|