DGAP-Adhoc
H&R AG: Preliminary operating income slightly below previous year, lower sales revenues
H&R AG / Key word(s): Preliminary Results/Final Results
13.02.2015 19:01
Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted
by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
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Ad-hoc announcement pursuant to Article 15 of the German Securities Trading
Act (WpHG)
2014 Preliminary Figures
H&R AG: Preliminary operating income slightly below previous year, lower
sales revenues
- Sales revenues of EUR 1,058.6 million significantly lower than in
previous year
- EBITDA of EUR 31.5 million is within most recently forecast earnings
range
- Drop in price of crude oil negatively affects earnings in fourth
quarter of 2014
Salzbergen, 13 February 2015. According to preliminary figures, H&R
Aktiengesellschaft (ISIN DE0007757007) generated EUR 1,058.6 million of
sales revenues in financial year 2014, a decline of around 13% compared to
the previous year (2013: EUR 1,214.4 million). The main factor behind the
decline is the crude oil price, which was averagely lower than in the
previous year and shows a high correlation of sales. Because production and
sold quantities were comparable, revenues decreased.
The preliminary operating result (EBITDA) for the year under review totaled
EUR 31.5 million (2013: EUR 32.6 million), meaning that it was within the
projected range published in December 2014. The change in EBIT was quite
positive; compared to the previous year it rose by EUR 9.9 million to EUR
5.8 million (2013: EUR -4.1 million). The trend was similar for earnings
before taxes (EBT), which increased by EUR 9.0 million from EUR -16.8
million in 2013 to EUR -7.8 million in 2014. Consolidated income after
minorities totaled EUR -15.4 million (2013: EUR -14.0 million), below the
level of financial year 2013 due to the impact of deferred taxes.
Four quarter was below expectations, primarily because of the drop in the
price of crude oil
Although business performance was satisfactory from an operating standpoint
during the first nine months of 2014, the final quarter with its sharp
decline of crude oil prices prevented an improvement in performance for the
year as a whole. During the fourth quarter of 2014, the Company's sales
by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
---------------------------------------------------------------------------
Ad-hoc announcement pursuant to Article 15 of the German Securities Trading
Act (WpHG)
2014 Preliminary Figures
H&R AG: Preliminary operating income slightly below previous year, lower
sales revenues
- Sales revenues of EUR 1,058.6 million significantly lower than in
previous year
- EBITDA of EUR 31.5 million is within most recently forecast earnings
range
- Drop in price of crude oil negatively affects earnings in fourth
quarter of 2014
Salzbergen, 13 February 2015. According to preliminary figures, H&R
Aktiengesellschaft (ISIN DE0007757007) generated EUR 1,058.6 million of
sales revenues in financial year 2014, a decline of around 13% compared to
the previous year (2013: EUR 1,214.4 million). The main factor behind the
decline is the crude oil price, which was averagely lower than in the
previous year and shows a high correlation of sales. Because production and
sold quantities were comparable, revenues decreased.
The preliminary operating result (EBITDA) for the year under review totaled
EUR 31.5 million (2013: EUR 32.6 million), meaning that it was within the
projected range published in December 2014. The change in EBIT was quite
positive; compared to the previous year it rose by EUR 9.9 million to EUR
5.8 million (2013: EUR -4.1 million). The trend was similar for earnings
before taxes (EBT), which increased by EUR 9.0 million from EUR -16.8
million in 2013 to EUR -7.8 million in 2014. Consolidated income after
minorities totaled EUR -15.4 million (2013: EUR -14.0 million), below the
level of financial year 2013 due to the impact of deferred taxes.
Four quarter was below expectations, primarily because of the drop in the
price of crude oil
Although business performance was satisfactory from an operating standpoint
during the first nine months of 2014, the final quarter with its sharp
decline of crude oil prices prevented an improvement in performance for the
year as a whole. During the fourth quarter of 2014, the Company's sales
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