H+H Annual Report 2018

 
"Strong organic growth in combination with good performance in the acquired businesses was the basis for the strong result in 2018", says CEO Michael T. Andersen. "We pursue further M&A opportunities in Central Europe as we see a need for market restructuring and H+H is in a unique situation to participate in such."
 

Selected financial highlights for 2018

 

Q4 2018

Q4 2017

Q1-Q4 2018

Q1-Q4 2017

Revenue

660

370

2,523

1,662

Organic growth

30%

 

18%

 

EBITDA before special items

110

61

410

242

EBIT margin before special items

7%

11%

9%

10%

ROIC *

 

 

10%

16%

Financial gearing

 

 

1.3

1.9

Free cash flow **

89

-18

236

-61

 

* adjusted for "one-off" depreciations from purchase price allocation, impact of special items and impairment of fixed assets return on invested capital would have been 17%
** excluding acquisition of enterprises and related land, property and related deferred payments related hereto
 
 

Outlook for 2019

  • Revenue growth before acquisitions and measured in local currencies is expected to be around 7%.
  • EBITDA before special items is expected to be DKK 445-495 million.
  • EBIT before special items is expected to be DKK 270-320 million.
  • Investments excluding acquisitions and divestments are expected to be in the region of DKK 160 million including investments for establishing a CSU production line near Gdansk, Poland.