13/05/2019 13:31:05

Interim financial report for Q1 2019

“We have more than doubled EBITDA due to favorable market conditions, the impact from last years’ acquisitions and the upgrade of the Borough Green factory”, says CEO Michael T. Andersen. “We are running at full capacity in many of our markets and have reduced stocks in the first quarter of 2019.”

Highlights for the period 1 January to 31 March 2019

DKK million

Q1 2019

Q1 2018

Revenue666434
Organic growth22%5%
EBITDA before special items9740
EBIT margin before special items8%3%
NIBD/EBITDA before special items1.45.5
Special items016
Free cash flow excluding acquisitions and divestments(23)(99)

Outlook for 2019

H+H updates its outlook for 2019:

  • Growth before acquisitions and measured in local currencies is expected to be around 7% (unchanged).
  • EBITDA before special items is expected to be DKK 460-510 million (previously DKK 445-495 million).
  • EBIT before special items is expected to be DKK 280-330 million (previously DKK 270-320 million). 
  • Investments excluding acquisitions and divestments are expected to be in the region of DKK 160 million including investments for establishing a CSU production line near Gdansk, Poland and IFRS 16 effect (unchanged).

Investor teleconference

H+H International A/S will host an investor teleconference on 14 May 2019 at 10.30 a.m. CEST.

To attend the conference call dial +45 35 27 02 29 and meeting ID is 538122.

For further information please contact:

Michael T Andersen, CEO, or Bjarne Pedersen, Vice President, Business Development & IR, on telephone +45 35 27 02 00.

H+H’s core activity is the manufacture and sale of wall building materials, with a revenue in 2018 of DKK 2.5 billion. The main product lines are aircrete blocks and calcium silicate units used for the residential new building segment. H+H has 29 factories in Northern and Central Europe and Northwest Russia with a total output of more than 4 million cubic metres of products annually and has a leading position in most of its markets. H+H has more than 1,600 employees and is listed on Nasdaq Copenhagen.

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