21.03.2018
H&R GmbH & Co. KGaA DE000A2E4T77
DGAP-News: H&R GmbH & Co. KGaA confirms preliminary figures for FY 2017
DGAP-News: H&R GmbH & Co. KGaA / Key word(s): Final Results/Miscellaneous
H&R GmbH & Co. KGaA confirms preliminary figures for FY 2017
21.03.2018 / 07:30
The issuer is solely responsible for the content of this announcement.
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Press Release
H&R GmbH & Co. KGaA publishes 2017 Annual Report
- Positive contributions by all segments again ensure a high operating
income of EUR 97.9 million
- Net income of EUR 32.1 million
- Executive Board intends to propose that the Annual Shareholders' Meeting
distribute a dividend of EUR 0.40 per share
Salzbergen, Germany, 21 March 2018. In financial year 2017, H&R GmbH & Co.
KGaA (H&R KGaA; ISIN DE000A2E4T77) generated EUR 97.9 million (2016: EUR
101.4 million) of operating income (EBITDA - Earnings before income taxes,
other financial income and expenses and depreciation, amortization,
impairments and reversals of impairments of property, plant and equipment
and intangible assets). Despite higher writedowns, the other earnings levels
were also impressive (see the table "Key Figures for H&R KGaA). Consolidated
income attributable to shareholders totaled EUR 32.1 million (2016: EUR 38.4
million), a year-on-year decrease of EUR 6.3 million - in part due to the
further increase in income tax expense. Earnings per share stood at EUR 0.88
(2016: EUR 1.05). The solid earnings were generated on EUR 1.0251 billion of
sales revenues, which were around 9% higher than in the previous year (2016:
EUR 942.7 million). This was primarily because of the higher average price
of crude oil compared to the previous year. This result means that not only
is H&R KGaA again able to pay a dividend - as already announced - but that
it plans to distribute the first dividend since 2011 and will propose
profit-sharing of EUR 0.40 per share to the Annual Shareholders' Meeting.
All segments made positive contributions to earnings
The Chemical-Pharmaceutical Raw Materials division with its Refining and
Sales segments generated EUR 98.1 million of EBITDA (2016: EUR 103.6
million), thereby making a strong contribution to consolidated EBITDA
despite the global economic challenges and a one-time increase in
maintenance requirements at the Hamburg refinery site. The Plastics division
recovered significantly by applying cost discipline and by streamlining and
focusing more on expanding the customer portfolio, thereby once again
improving earnings to EUR 3.7 million (2016 EBITDA: EUR 2.6 million). EUR
-3.8 million (2016: EUR -5.1 million) of consolidation effects on Group
level reduced EBITDA.
Operating cash flow again positive in 2017; stable equity base
Starting from a somewhat lower consolidated net income, cash flow from
operations remained strongly positive, although it declined from EUR 75.5
million to EUR 46.2 million. At the same time, higher cash outflows for
capital expenditures reduced free cash flow from EUR 36.7 million to EUR
-11.9 million. As of the end of financial year 2017, the balance sheet total
had increased to EUR 662.6 million (31 December 2016: EUR 648.2 million).
Due to the company's positive overall economic and financial situation,
shareholders' equity increased to EUR 342.7 million on the balance sheet
date (31 December 2016: EUR 317.4 million). The equity ratio was 51.7% (31
December 2016: 49.0%).
Outlook
The H&R KGaA with which we are "entering the race" in 2018 faces a
geopolitical situation that is becoming increasingly complex for
interconnected companies with international operations. It is therefore with
self-confidence, but also a dose of realism, that we are drawing up our
forecasts for 2018 and setting as our target an operating income (EBITDA)
figure of between EUR94.0 million and EUR106.0 million.
For a complete presentation of the company's business performance, including
segment reporting and the annual financial statements, H&R KGaA recommends
consulting the 2017 Annual Report that will be released today.
Key Figures for H&R KGaA:
IN EUR MILLION 2017 2016 - /
+
Sales revenues 1,025.1 942.7 82.4
Operating income (EBITDA) 97.9 101.4 -3.5
As % of sales 9.6 10.8 -1.2
EBIT 54.8 64.2 -9.4
Earnings before taxes 46.2 54.2 -8.0
Consolidated income after taxes 29.5 39.3 -9.8
Consolidated income attributable to 32.1 38.4 -6.3
shareholders
Consolidated earnings per share (EUR) 0.88 1.05 -0.1-
7
Cash flow from operating activities 46.2 75.5 -29.-
3
Free cash flow -11.9 36.7 -48.-
6
31/12/1- 31/12/1- - /
7 6 +
Balance sheet total 662.6 648.2 14.4
Group equity 342.7 317.4 25.3
Equity ratio (%) 51.7 49.0 2.7
Number of employees (absolute) 1,692 1,628 64
The Segments in Figures
IN EUR MILLION 2017 2016 - / +
Sales revenues
ChemPharm Refining 616.8 567.2 49.6
ChemPharm Sales 357.2 328.0 29.2
Plastics 59.6 56.5 3.1
Reconciliation -8.5 -9.1 0.6
EBITDA
ChemPharm Refining 63.7 64.5 -0.8
ChemPharm Sales 34.4 39.4 -5.0
Plastics 3.7 2.6 1.1
Reconciliation -3.8 -5.1 1.3
Contact:
H&R GmbH & Co. KGaA, Head of Investor Relations / Communication, Ties Kaiser
Neuenkirchener Strasse 8, 48499 Salzbergen
Tel.: +49 40 43218-321, Fax: +49 40 43218-390
Mail: [email protected]
www.hur.com
H&R GmbH & Co. KGaA:
H&R GmbH & Co. KGaA 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. The statements are
based on the current estimates and forecasts by the Executive Board and the
information available to the Board at this time. These forward-looking
statements should not be interpreted as a guarantee that the projected
future developments and results contained therein will materialize. The
future developments and results are dependent on a number of factors that
entail various risks and contingencies and are based on assumptions which
could prove to be incorrect. We do not assume any responsibility for
updating the forward-looking statements contained in this press release.
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21.03.2018 Dissemination of a Corporate News, transmitted by DGAP - a
service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
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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: [email protected]
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
End of News DGAP News Service
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666481 21.03.2018
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