H&R GmbH & Co. KGaA - Earnings Release 2015

News Details

Corporate | 21 March 2016 06:59

H&R Aktiengesellschaft confirms good figures for FY 2015

DGAP-News: H&R Aktiengesellschaft / Key word(s): Final Results/Miscellaneous

2016-03-21 / 06:59

The issuer is solely responsible for the content of this announcement.

Press Release

H&R AG confirms good figures for FY 2015

– EBITDA increases by EUR54.5 million to hit EUR86.0 million

– Full year with strong customer demand and high sales volume

– Cash flow and equity significantly improved

Salzbergen (Germany), 21 March 2016. The company H&R Aktiengesellschaft (ISIN DE0007757007) has achieved earnings before interest, taxes, depreciation and amortization (EBITDA) of EUR86.0 million (2014: EUR31.5 million). EBIT also developed very positively, to rise by EUR43.4 million to EUR49.2 million (2014: EUR5.8 million). Earnings before tax (EBT) followed a similar curve, totaling EUR34.8 million for the year under review (2014: EUR-7.8 million); an increase of EUR42.6 million with respect to the previous year.

Net earnings were, on balance and at EUR27.5 million (2014: EUR-15.4 million), EUR42.9 million above the previous year’s figure.

The significant improvements were achieved in sales revenues amounting to EUR982.9 million; i.e. about 7% less than in the previous year (2014: EUR1,058.6 million). This was due above all to lower-than-average crude oil prices.

Significant growth in earnings of chemical-pharmaceutical core business

The business division chemical-pharmaceutical raw material with its segments Refining and Sales increased its contribution to group EBITDA significantly, showing EUR88.4 million, compared to previous year’s EUR37.0 million. The development was supported by ongoing strong customer demand, even in the final months of the year, improved quantity of sales, and coincidently good margins for our core and by-products.

The plastics segment improved as well; with a slight increase of earning by EUR0.7 million, it remained negative (EBITDA 2015: EUR-0.8 million; 2014: EUR-1.5 million).

Clear improvement in cash flow

There was a clear rise in operational cash flow by EUR56.8 million over the year as a whole, from EUR-0.4 million to EUR56.4 million. Despite higher investment activities of EUR28.1 million (2014: EUR10.1 million), free cash flow also shows the significant improvement of the company, rising from EUR-10.5 million to EUR28.4 million.

The balance sheet total at the end of the 2015 financial year was reduced to EUR628.8 million (31.12.2014: EUR706.6 million). The company’s equity increased, by the reporting date, to EUR287.1 million (31.12.2014: EUR248.9 million). These changes relate directly to higher retained earnings resulting from improved group earnings. Even with the lower balance sheet total, equity stood at 45.7%.

Outlook 2016

The trend in demand and sales volumes continued at the beginning of 2016, laying the foundation for the company to successfully position itself in the market in 2016 as well. We expect our operating income (EBITDA) figure at the same level as last year.

For a detailed presentation of the business development, the company refers to the Annual Report, published today and available for download as PDF file on www.hur.com .

Key Figures H&R AG:


in Mio. EUR	2015	2014	– / +

Sales revenues	982.9	1,058.6	-75.7
Operative earnings (EBITDA)	86.0	31.5	54.5
in % of sales revenues	8.7	3.0	5.7
EBIT	49.2	5.8	43.4
Earnings before taxes	34.8	-7.8	42.6
Consolidated earnings after taxes	27.4	-15.6	43.0
Net profit / loss to shareholders	27.5	-15.4	42.9
Earnings per share (EUR)	0.77	-0.49	1.26
Cash flow from operating activities	56.4	-0.4	56.8

	31.12.15	31.12.14	– / +
Balance sheet total	628.8	706.6	-77.8
Equity	287.1	248.9	38.2
Equity ratio (%)	45.7	35.2	10.5
Employees (headcount)	1.568	1.553	15

Key Figures Segments:


in Mio. EUR	2015	2014	– / +

Sales revenues
Chem.-pharm. Raw Materials / Refining	614.3	768.7	-154.4
Chem.-pharm. Raw Materials / Sales	320.2	244.7	75.5
Plastics	60.1	56.5	3.6
Reconciliation	-11.6	-11.3	-0.3

EBITDA
Chem.-pharm. Raw Materials / Refining	53.3	18.2	35.1
Chem.-pharm. Raw Materials / Sales	35.1	18.8	16.3
Plastics	-0.8	-1.5	0.7
Reconciliation	-1.5	-3.9	2.4

Upcoming dates:


13 May, 2016	Publication of First Quarter Results 2016
18 May, 2016	Annual Shareholder Meeting in Hamburg
12 August, 2016	Publication of Half Year Report 2016
15 November, 2016	Publication of Third Quarter Results 2016

Contact information:

H&R AG, Investor Relations/Communications, Ties Kaiser

Neuenkirchener Strasse 8, 48499 Salzbergen

Tel.: +49 40 43218-321, Fax: +49 40 43218-390

E-mail: [email protected]

www.hur.com

H&R AG:

H&R AG is a specialty-chemicals company listed on the Frankfurt Stock Exchange’s Prime Standard segment. It develops and manufactures crude-oil-based chemical and pharmaceutical specialty products and produces high-precision plastic parts.

Forward-looking statements and forecasts:

This press release contains forward-looking statements. These statements are based on current estimates and forecasts made by the Executive Board and the information available to the Board at this time. Forward-looking statements should not be interpreted as guarantees that the projected future developments and results will materialise. Future developments and results are dependent on a range of factors. They comprise various risks and imponderables and rest on assumptions which may prove incorrect. We do not accept any obligation to update the forward-looking statements made in this press release.

2016-03-21 Dissemination of a Corporate News, transmitted by DGAP – a service of EQS Group AG.

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Language:	English
Company:	H&R Aktiengesellschaft
	Neuenkirchener Str. 8
	48499 Salzbergen
	Germany
Phone:	+49 (0)40 43 218 321
Fax:	+49 (0)40 43 218 390
E-mail:	[email protected]
Internet:	www.hur.com
ISIN:	DE0007757007
WKN:	775700
Listed:	Regulated Market in Dusseldorf, Frankfurt (Prime Standard), Hamburg; Regulated Unofficial Market in Berlin, Hanover, Munich, Stuttgart