DGAP-Adhoc

H&R AG: Projected full-year result 2014 no longer accessible due to rapidly declining crude oil prices

H&R AG / Key word(s): Final Results/Forecast

17.12.2014 17:39

Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted
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The issuer is solely responsible for the content of this announcement.

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Ad hoc notification conforming to article 15
of the German law governing the trading of
securities (WpHG)


WKN: 775700
ISIN: DE 0007757007

H&R AG: Projected full-year result 2014 no longer accessible due to rapidly
declining crude oil prices

Salzbergen, December 16, 2014. In H&R Aktiengesellschaft's opinion at this
time, the company - due to the extremely fast fallen crude oil prices -
will not be able to realize its latest earnings forecast (EBITDA) for the
year 2014. Pursuant to the rapidly declining oil prices the company's
result will be significantly burdened in the fourth quarter of 2014. As a
result of the several weeks' long production run, so far unprocessed raw
material stocks have been purchased at higher costs than the current market
prices. The production costs for the main products and by-products are
quite essentially raw material cost driven. Thus, daily material prices are
lower than at the time of production planning, which is also a consequence
of the duration of the production run. Assuming a stabilization of crude
oil quotations at the current level, and based on current knowledge, the
Management Board expects this effect on earnings to burden operating
profits in fourth quarter 2014 up to a high single-digit millions amount,
despite good sales figures and adequate margins on products which have
already been sold.

Accordingly, the Board believes that the above-mentioned negative effect
will exceed the expected good operating performance of H&R AG. The
projected EBITDA "significantly above the previous year's figure" of EUR
32.6 million, is - based on the recent status - no longer accessible. The
Management Board rather expects, based on the previous assumptions, that
EBITDA for the full year 2014 will be approximately in the range between
EUR 29 million to EUR 33 million. With stable crude oil prices without the
extreme direction of the last few months and a stable global economic
environment, the Board expects the company to show a solid earnings
development in the next few months.

H&R Aktiengesellschaft

The Board

Contact:
H&R AG, Investor Relations / Communication, Ties Kaiser
Neuenkirchener Straße 8, 48499 Salzbergen
Phone.: [phone], Fax: [phone]
Mail: [e-mail]
www.hur.com

H&R AG is a Prime Standard listed specialist chemicals company. It develops
and manufactures crude oil-based chemical and pharmaceutical products and
high-precision plastic parts.

Forward-looking statements and forecasts: This ad hoc notification contains
forward-looking statements. These statements are based on current estimates
and forecasts made by the Executive Board and the information available to
the Board at this time. Forward-looking statements should not be
interpreted as guarantees that the projected future developments and
results will materialise. Future developments and results are dependent on
a range of factors. They comprise various risks and imponderables and rest
on assumptions which may prove incorrect. We do not accept any obligation
to update the forward-looking statements made in this ad-hoc communication.


17.12.2014 The DGAP Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de

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Language: English
Company: H&R AG
Neuenkirchener Str. 8
48499 Salzbergen
Germany
Phone: [phone]
Fax: [phone]
E-mail: [e-mail]
Internet: www.hur.com
ISIN: DE0007757007
WKN: 775700
Listed: Regulierter Markt in Düsseldorf, Frankfurt (Prime Standard),
Hamburg; Freiverkehr in Berlin, Hannover, München, Stuttgart

End of Announcement DGAP News-Service

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