DGAP-News: H&R GmbH & Co. KGaA: Figures for Q1-2020 confirmed

Press Release

 

H&R GmbH & Co. KGaA confirms preliminary figures for Q1 2020

- EBITDA at EUR 10.7 million

- Outlook for 2020 confirmed

Salzbergen, May 15, 2020 H&R GmbH & Co. KGaA (abbrev.: H&R KGaA; ISIN DE000A2E4T77) has confirmed the preliminary key figures for the start of the year and achieved a consolidated operating income (EBITDA - Consolidated income before tax, other financial income and expenses and depreciation/amortization, impairment and appreciation of fixed assets and property, plant and equipment) of EUR 10.7 million in the first quarter of 2020 (same period of the previous year: EUR 20.1 million). The past quarter also saw decreased sales revenues of EUR 259.4 million, due to lower volumes and raw material prices (Q1-2019: EUR 286.1 million).

Overview of the main key figures:

Group key figures in € Million Q1-2020 Q1-2019 Absolute diff. Sales revenues 259.4 286.1 -26.7 Operating income (EBITDA) 10.7 20.1 -9.4 EBIT -2.0 9.4 -11.4 EBT -3.7 7.3 -11.0 Net profit/loss to shareholders -4.7 5.1 -9.8 Consolidated earnings per share (EUR) -0.13 0.14 -0.27 Operating cash flow 2.9 43.6 -40.7 Free cash flow -22.2 25.4 -47.6   3/31/2020 12/31/2019 Absolute diff. Balance sheet total 811.2 838.6 -27.4 Group equity 357.9 363.4 -5.5 Equity ratio (%)* 44.1 43.3 0.8         Segment key figures in € Million Q1-2020 Q1-2019 Absolute diff. ChemPharm Refining       Sales revenues 170.7 183.6 -12.9 Operating income (EBITDA) 5.0 13.4 -8.4         ChemPharm Sales       Sales revenues 80.2 93.8 -13.6 Operating income (EBITDA) 6.7 7.0 -0.3         Plastics Segment       Sales revenues 11.0 11.5 -0.5 Operating income (EBITDA) -0.1 0.1 -0.2         Reconciliation / Others       Sales revenues -2.6 -2.8 0.2 Operating income (EBITDA) -0.9 -0.4 -0.5  

* Change in percentage points.

The segments REFINING and SALES made positive contributions to earnings in this quarter, the PLASTICS segment achieved an almost balanced result. The difference of EUR -9.4 million compared to EBITDA in the same quarter of the previous year is mainly due to the inconsistent development of sales volumes, revenue and earnings contributions across the entire segments. The refinery business, for example, achieved stable prices, while at the same time lower volumes and windfall effects from the decreased crude oil prices burdened the EBITDA. In international business, sales revenues decreased even more, while earnings remained almost on the good prior-year level. The plastics business had to stand its ground in an extremely difficult environment, as is generally known, surrounding the automotive business. After the restructuring measures of the previous year, we had definitely expected a more positive trend, however, due to the numerous closings of the automobile manufacturers and suppliers, the cost advantages resulting from these measures could not develop.

On the basis of current knowledge, the pending easing of the corona measures and in anticipation of possible government measures to revive the economy, we confirm our objectives for the operational earnings 2020 in the range from EUR 50.0 million to EUR 65.0 million.

For detailed statements on the trends in business performance and earnings, the company refers to the quarterly report for the first quarter of 2020 published today, which is available for download at www.hur.com in the "Investors Relations" section.

Contact information:
H&R GmbH & Co. KGaA, Head of Investor Relations/Communications, Ties Kaiser
Neuenkirchener Strasse 8, 48499 Salzbergen
Phone.: +49 40 43218-321, Fax: +49 40 43218-390
Email: ties.kaiser@hur.com ; www.hur.com

H&R GmbH & Co. KGaA:
H&R 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 do not provide any warranty for the future developments and results contained therein. The future developments and results are dependent on a number of factors; they 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.