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H&R GmbH & Co. KGaA / Key word(s): Preliminary Results/Quarter Results
Insider information pursuant to Article 17 of the Market Abuse Regulation [MAR]
- EBITDA of EUR 25.2 million (Q1-2021: EUR 25.7 million) almost at the previous year's level
- Significantly improved sales of EUR 361.8 million
- Currently stable earnings situation despite the Ukraine war
Salzbergen, Germany, April 25, 2022. According to preliminary calculations, H&R GmbH & Co. KGaA (Short: H&R KGaA; DE000A2E4T77) achieved an operating result (EBITDA - consolidated earnings before tax, other financial income and expenses, and depreciation/amortization, impairment and write-ups on fixed assets and property, plant and equipment) of EUR 25.2 million in the first quarter of 2022 (Q1/2021: EUR 25.7 million), and therefore almost at the level of the same quarter of the previous year. Overall, despite the war in Ukraine, the company presented itself with a stable earnings situation at the beginning of the year. EBIT was EUR 12.0 million (Q1/2021: EUR 13.2 million), earnings before taxes (EBT) were EUR 10.3 million (Q1/2021: EUR 11.3 million). The bottom line is that the Group achieved better earnings attributable to shareholders of EUR 8.1 million compared to the same quarter of the previous year (Q1/2021: EUR 7.2 million). This was achieved with sales revenues of EUR 361.8 million. This is around 50.0% more than in the previous year (Q1/ 2021: EUR 241.4 million). The primary reason for this was the effects of the war in Ukraine on the international raw materials markets, which led to higher material and energy costs and, ultimately, to higher product prices.
Current result continues to be mainly driven by refining business
The refineries in the REFINING segment continued to sell stable volumes in the first quarter of 2022. Revenue increased to EUR 235.9 million (Q1/2021: EUR 144.5 million) due to raw material prices. The segment's EBITDA was an improved EUR 19.0 million (Q1/2021: EUR 17.5 million). The international locations of our SALES segment, on the other hand, also improved strongly in sales to EUR 119.8 million (Q1/2021: EUR 87.9 million), although the result in this segment fell slightly: instead of EUR 7.6 million in the same quarter of the previous year, EBITDA of EUR 6.6 million was achieved in the first quarter of 2022. The Plastics segment achieved a positive EBITDA of EUR 0.7 million (Q1/2021: EUR 0.9 million) despite the difficult situation in the international automotive industry, which was once again due to the political situation. Here, sales of EUR 10.9 million in the previous year remained constant at EUR 10.6 million in Q1/2022.
Cash flow under pressure in Q1/2022
With a lower consolidated result of EUR 7.8 million (Q1/2021: EUR 8.0 million), the operating cash flow in the first quarter of 2022 remained negative at EUR -4.8 million (Q1/2021: EUR -4.0 million). The primary cause was the development of the raw material price, which led to a higher net working capital requirement. The free cash flow also closed negatively at EUR -18.4 million (Q1/2021: EUR -12.3 million).
Equity base remains solid
For a complete presentation of the business development, including segment reporting and the quarterly financial statements, H&R KGaA refers to Quarterly Statement 1/2022, which will be published on May 13, 2022.
H&R GmbH & Co. KGaA:
25-Apr-2022 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
H&R GmbH & Co. KGaA
Neuenkirchener Str. 8
+49 (0)40 43 218 321
+49 (0)40 43 218 390
Regulated Market in Dusseldorf, Frankfurt (Prime Standard), Hamburg; Regulated Unofficial Market in Berlin, Hanover, Munich, Stuttgart, Tradegate Exchange
EQS News ID:
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