DGAP-Adhoc: H&R GmbH & Co. KGaA: Preliminary figures for Q3-2020

2020. október 22., csütörtök, 15:10

DGAP-Ad-hoc: H&R GmbH & Co. KGaA / Key word(s): 9 Month figures/Preliminary Results

H&R GmbH & Co. KGaA: Preliminary figures for Q3-2020

22-Oct-2020 / 15:10 CET/CEST

Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by DGAP - a service of EQS Group AG.

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

Insider information pursuant to Article 17

of the Market Abuse Regulation [MAR]

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.

At the remaining levels, the results also exceeded the previous year: EBIT closed at EUR 1.9 million after last year"s EUR -6.5 million. Earnings before taxes (EBT) in the third quarter of 2020 were almost balanced at EUR -0.1 Million (Q3-2019: EUR -8.4 million), the company closed the net income attributable to shareholders with EUR -1.2 million (Q3-2019: EUR -6.0 million). Sales revenues in the third quarter of the current financial year fell to EUR 208.1 million (Q3-2019: EUR 274.7 million), in particular due to purchase quantities that increased during the current year but did not reach previous years" figures.

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).

The ChemPharm Refining segment performed significantly better in the third quarter of 2020 with an EBITDA of EUR 8.7 million than in the same quarter of the previous year (Q3-2019: EUR 4.1 million). At EUR 15.7 million (nine months 2019: EUR 27.0 million), however, the noticeable recovery since June did not compensate for the burdens that the corona lockdown measures already had on the half-year result. Sales in the segment also remained lower and reached EUR 397.5 million for the nine-month period (nine months 2019: EUR 513.8 million).

The Plastics segment generated an almost balanced, compared to the previous year even improved operating result, both at quarterly level and for the nine-month period of 2020. It achieved EUR 0.4 million and EUR 0.2 million (Q3-2019: EUR -5.0 million; nine months 2019: EUR -5.4 million). Sales revenue of EUR 11.0 million or EUR 29.2 million remained - as a result of the still tense situation in the automotive industry - at a subdued level compared to the previous year (Q3-2019: EUR 10.9 million; nine months 2019: EUR 32.9 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.


H&R GmbH & Co. KGaA, Head of Investor Relations / Communication, Ties Kaiser

Neuenkirchener Straße 8, 48499 Salzbergen

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

Mail: ties.kaiser@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 insider information pursuant to Article 17 of the Market Abuse Regulation [MAR] contains forward-looking statements. The statements are based on the current estimates and forecasts by the Management Team and the information available to it 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 insider information pursuant to Article 17 of the MAR.

22-Oct-2020 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de

Language: English
Company: H&R GmbH & Co. KGaA

Neuenkirchener Str. 8

48499 Salzbergen

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
Listed: Regulated Market in Dusseldorf, Frankfurt (Prime Standard), Hamburg; Regulated Unofficial Market in Berlin, Hanover, Munich, Stuttgart, Tradegate Exchange
EQS News ID: 1142456

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1142456  22-Oct-2020 CET/CEST

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