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HOMANN HOLZWERKSTOFFE GmbH reports successful business trend for H1 2015
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0 KommentareDGAP-News: HOMANN HOLZWERKSTOFFE GmbH / Key word(s): Half Year Results
HOMANN HOLZWERKSTOFFE GmbH reports successful business trend for H1
2015
31.08.2015 / 10:00
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HOMANN HOLZWERKSTOFFE GmbH reports successful business trend for H1 2015
- Sales revenues slightly above prior year at EUR 101.2 million
- EBITDA up 89% to EUR 13.2 million; EBIT surge to EUR 7.2 million
- Earnings forecast for full year confirmed
Munich/Herzberg am Harz, August 31, 2015 - HOMANN HOLZWERKSTOFFE GMBH, a
leading European supplier of thin finished wooden fibreboards for the
furniture, doors, coatings and automobile industries, looks back on a
successful first half of 2015. Sales revenues from continued operations as
well as earnings figures and the equity ratio improved, partly quite
significantly. "Our strategic measures are beginning to make themselves
felt and the first positive effects are already reflected in our figures,"
said Fritz Homann, Managing Director of HOMANN HOLZWERKSTOFFE GMBH, and
expressed his satisfaction about the first half of 2015.
Consolidated sales revenues from continued operations increased by 0.8% to
EUR 101.2 million in the first six months of 2015. The previous year's
six-month revenues still included the revenues of HomaTrade GmbH in the
amount of EUR 4.7 million, which has been sold in the meantime. 77.9% of
the first-half sales revenues were generated outside Germany (H1 2014:
78.3%). The operating figures continued to improve in the reporting period.
Earnings before interest, taxes, depreciation and amortisation (EBITDA)
rose by 89% to EUR 13.2 million (H1 2014: EUR 7.0 Mio.). Earnings before
interest and taxes (EBIT) surged from EUR 1.8 million to EUR 7.2 million.
The result for the period improved notably from EUR -2.0 million to EUR 3.9
million. Operating cash flow amounted to EUR 4.0 million (H1 2014: EUR 8.1
million).
The Group's profitability will benefit sustainably from the start-up of the
new HDF/MDF plant in Krosno, Poland. "With the first board coming off the
assembly line on March 26, 2015 at 12:03 h, we successfully stepped up the
production capacities only three weeks after production of the first board
and have worked in three shifts since April," said Fritz Homann, who is
satisfied with the start-up of the Krosno plant. Except for minor final
payments, the investment in the HDF/MDF production facility and the
finishing centre at this location has been completed. At roughly EUR 86
million, the total investments in the new plant were up by only 2% on the
original budget.
In the first half of 2015, the company implemented several planned
optimisation measures with a view to reducing its leverage and
strengthening its equity base. In particular, these include the
sale-and-lease-back of plant and machinery. These resulted in positive
one-time effects totalling EUR 4.1 million (H1 2014: EUR 0 million), which
sent EBITDA rising by 89% to EUR 13.1 million (H1 2014: EUR 6.9 million).
Adjusted for exchange rate and one-time effects, operating EBITDA amounted
to EUR 8.1 million (H1 2014: EUR 7.7 million). Taking into account the
silent partnership and the neutralisation of the negative Group reserve
from exchange differences, the equity ratio improved from 13% to 14.6% and
equity capital from EUR 31.3 million to EUR 35.4 million as of June 30,
2015. Further measures are planned for the second half of 2015, which means
that the company will continue its course with determination.
The company has confirmed its forecast for the full year, according to
which EBITDA before one-time effects should reach EUR 23 million and sales
revenues stay above EUR 200 million. The fact that the production volume in
mid-2015 was slightly below expectations is attributable to the eight-week
delay in the start-up of the Krosno plant.
The full interim Group management report on the first half of 2015 is
available at www.homann-holzwerkstoffe.de.
For further information:
Frank Ostermair/Michael Werneke
Better Orange IR & HV AG
Tel.: +49 (0)211 387 355 46
michael.werneke@better-orange.de
Martina Siebe
Homann Holzwerkstoffe GmbH
Tel.: +49 (0)89 99 88 69 11
ms@homanit.org
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31.08.2015 Dissemination of a Corporate News, transmitted by DGAP - a
service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
The DGAP Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
---------------------------------------------------------------------
390677 31.08.2015
HOMANN HOLZWERKSTOFFE GmbH reports successful business trend for H1 2015
- Sales revenues slightly above prior year at EUR 101.2 million
- EBITDA up 89% to EUR 13.2 million; EBIT surge to EUR 7.2 million
- Earnings forecast for full year confirmed
Munich/Herzberg am Harz, August 31, 2015 - HOMANN HOLZWERKSTOFFE GMBH, a
leading European supplier of thin finished wooden fibreboards for the
furniture, doors, coatings and automobile industries, looks back on a
successful first half of 2015. Sales revenues from continued operations as
well as earnings figures and the equity ratio improved, partly quite
significantly. "Our strategic measures are beginning to make themselves
felt and the first positive effects are already reflected in our figures,"
said Fritz Homann, Managing Director of HOMANN HOLZWERKSTOFFE GMBH, and
expressed his satisfaction about the first half of 2015.
Consolidated sales revenues from continued operations increased by 0.8% to
EUR 101.2 million in the first six months of 2015. The previous year's
six-month revenues still included the revenues of HomaTrade GmbH in the
amount of EUR 4.7 million, which has been sold in the meantime. 77.9% of
the first-half sales revenues were generated outside Germany (H1 2014:
78.3%). The operating figures continued to improve in the reporting period.
Earnings before interest, taxes, depreciation and amortisation (EBITDA)
rose by 89% to EUR 13.2 million (H1 2014: EUR 7.0 Mio.). Earnings before
interest and taxes (EBIT) surged from EUR 1.8 million to EUR 7.2 million.
The result for the period improved notably from EUR -2.0 million to EUR 3.9
million. Operating cash flow amounted to EUR 4.0 million (H1 2014: EUR 8.1
million).
The Group's profitability will benefit sustainably from the start-up of the
new HDF/MDF plant in Krosno, Poland. "With the first board coming off the
assembly line on March 26, 2015 at 12:03 h, we successfully stepped up the
production capacities only three weeks after production of the first board
and have worked in three shifts since April," said Fritz Homann, who is
satisfied with the start-up of the Krosno plant. Except for minor final
payments, the investment in the HDF/MDF production facility and the
finishing centre at this location has been completed. At roughly EUR 86
million, the total investments in the new plant were up by only 2% on the
original budget.
In the first half of 2015, the company implemented several planned
optimisation measures with a view to reducing its leverage and
strengthening its equity base. In particular, these include the
sale-and-lease-back of plant and machinery. These resulted in positive
one-time effects totalling EUR 4.1 million (H1 2014: EUR 0 million), which
sent EBITDA rising by 89% to EUR 13.1 million (H1 2014: EUR 6.9 million).
Adjusted for exchange rate and one-time effects, operating EBITDA amounted
to EUR 8.1 million (H1 2014: EUR 7.7 million). Taking into account the
silent partnership and the neutralisation of the negative Group reserve
from exchange differences, the equity ratio improved from 13% to 14.6% and
equity capital from EUR 31.3 million to EUR 35.4 million as of June 30,
2015. Further measures are planned for the second half of 2015, which means
that the company will continue its course with determination.
The company has confirmed its forecast for the full year, according to
which EBITDA before one-time effects should reach EUR 23 million and sales
revenues stay above EUR 200 million. The fact that the production volume in
mid-2015 was slightly below expectations is attributable to the eight-week
delay in the start-up of the Krosno plant.
The full interim Group management report on the first half of 2015 is
available at www.homann-holzwerkstoffe.de.
For further information:
Frank Ostermair/Michael Werneke
Better Orange IR & HV AG
Tel.: +49 (0)211 387 355 46
michael.werneke@better-orange.de
Martina Siebe
Homann Holzwerkstoffe GmbH
Tel.: +49 (0)89 99 88 69 11
ms@homanit.org
---------------------------------------------------------------------
31.08.2015 Dissemination of a Corporate News, transmitted by DGAP - a
service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
The DGAP Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
---------------------------------------------------------------------
390677 31.08.2015
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