DGAP-Adhoc

H&R AG: Preliminary figures for the first quarter of 2015

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

22.04.2015 09:42

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H&R AG: Preliminary figures for the first quarter of 2015

- Operating income (EBITDA) more than twice as high as in the first
quarter of 2014

- Significant increase in earnings in the Refining segment

- Positive EBITDA trend in all three segments

- Outlook for 2015 confirmed

Salzbergen, 21 April 2015. According to preliminary calculations, H&R
Aktiengesellschaft (ISIN DE0007757007) more than doubled consolidated
operating income from EUR 7.7 million in the first quarter of 2014 to EUR
15.5 million in the first quarter of 2015. EBIT improved from EUR 2.1
million in the first quarter of 2014 to EUR 8.1 million. The improvement in
profitability was also reflected in earnings before taxes (EBT, which
increased from EUR -1.6 million in the first quarter of 2014 to EUR 5.0
million in the first quarter of 2015) and in consolidated net income (which
increased from EUR -1.1 million in the first quarter of 2014 to EUR 4.7
million in the first quarter of 2015). Sales revenues stood at EUR 263.0
million in the first quarter of 2015, around 7.0% lower than the prior-year
figure (first quarter of 2014: EUR 282.6 million) because of raw-material
prices.

Despite a 23.3% drop in sales (from EUR 219.3 million in the first quarter
of 2014 to EUR 168.2 million in the first quarter of 2015), the ChemPharm
Refining segment accounted for a substantial portion of the increase in
earnings, with EBITDA increasing to EUR 9.8 million (first quarter of 2014:
EUR 5.5 million). In particular, the segment performed very well in the
second half of the quarter. Thanks to the inclusion of the Chinese
businesses in the fall of 2014, the segment responsible for the Group's
international activities - ChemPharm Sales - reported a 54.0% increase in
sales in the first quarter of 2015, to EUR 82.1 million (first quarter of
2014: EUR 53.3 million) and a 79.4% improvement in operating income,
posting EBITDA of EUR 6.1 million (first quarter of 2014: EUR 3.4 million).
The Plastics segment managed to increase sales 8.5% to EUR 15.3 million
(first quarter of 2014: EUR 14.1 million) and reported positive EBITDA of
EUR 0.3 million, compared to EUR -0.6 million in the first quarter of 2014.