Highlights latest interim financial report

Highlights for the period 1 January to 31 March 2017 

  • Revenue for the first quarter of 2017 increased by 6% in local currencies (organic growth) and increased by 2% in DKK to DKK 376.5 million (2016: DKK 367.9 million).
  • EBITDA before special items for the first quarter of 2017 was DKK 36.9 million (2016: DKK 36.6 million).
  • EBIT before special items for the first quarter of 2017 was DKK 17.9 million (2016: DKK 15.9 million). EBIT margin before special items for the first quarter of 2017 was 4.8% (2016: 4.3%).
  • Net profit for the first quarter of 2017 was DKK 1.7 million (2016: DKK 1.1 million).
  • Investments for the first quarter of 2017 was DKK 23.0 million (2016: DKK 10.6 million).
  • Free cash flow for the first quarter of 2017 was DKK (94.6) million (2016: (41.3) million).
  • Net interest-bearing debt at 31 March 2017 was DKK 483.3 million (31 March 2016: DKK 489.7 million). A new loan agreement with Danske Bank was concluded, running until April 2020.
  • H+H reiterates its outlook for 2017: Revenue growth is expected to be 5-7% (measured in local currencies), and EBITDA before special items is expected to be DKK 220-240 million. Special items of approximately DKK 25 million cost are expected to be incurred as a result of the Borough Green factory upgrade and resulting need to import products from Poland. The increased transportation cost will be expensed at the point of sale and treated as a special item. Investments excluding acquisitions and divestments are expected to be in the region of DKK 120 million. 

 

Quote:
"We are very pleased to see continuous improvements in the market, and despite adverse impact from currency development, we are able to deliver a result in line with last year" says CEO Michael T. Andersen. "Organic growth enables us to deliver a Q1 result on par with last year. We are now in a situation where we are getting closer to capacity constraints in all markets except Russia." 

Download Interim financial report Q1 2017 as PDF: English