HÖRMANN publishes financial results for the first nine months of 2019
Kirchseeon, 27 November 2019 – HÖRMANN Industries GmbH (corporate bond, WKN: A2TSCH) announced its financial results for the first nine months of 2019. Accordingly, sales in the first three quarters of 2019 rose by 2.7% to EUR 440.9 million (9M 2018: EUR 429.3 million). Earnings before interest and taxes (EBIT) increased from EUR 11.0 million to EUR 17.4 million. At EUR 11.6 million, consolidated net income was also above the previous year’s level (9M 2018: EUR 6.1 million).
Johann Schmid-Davis, CFO of HÖRMANN Industries GmbH: “The development of the HÖRMANN Group in the first nine months of 2019 was satisfactory and we assess the situation of the Group as positive. However, we cannot escape the effects of the economic slowdown, which is particularly affecting our Automotive and Services divisions. Nevertheless, our diversified corporate structure with its four business divisions enables us to at least partially compensate for cyclical fluctuations by our own efforts thanks to our wide-ranging activities. In addition, we are also well positioned at the financial level: Not least thanks to our early bond refinancing in June 2019. “
For 2019 as a whole, the management of HÖRMANN Industries GmbH is forecasting sales within a range of around EUR 590 million to EUR 600 million. Earnings before interest and taxes (EBIT) are expected to range from around EUR 21.5 million to EUR 23.0 million.
The complete consolidated interim report of HÖRMANN Industries GmbH for the period from January 1 to September 30, 2019 is available at https://www.hoermann-gruppe.de/en/investor-relations/financial-publications/finanzpublikationen.
Selected key figures of HÖRMANN Industries GmbH
In EUR million |
9M 2019 |
9M 2018 |
Difference |
Sales |
440.9 |
429.3 |
2.7% |
Total output |
473.7 |
469.4 |
0.9% |
Gross profit |
214.1 |
223.0 |
-4.0% |
EBITDA* |
25.8 |
20.7 |
24.6% |
EBITDA margin |
5.9 % |
4.8% |
|
EBIT** |
17.4 |
11.0 |
58.2% |
EBIT margin |
3.9% |
2.6% |
|
Consolidated net income |
11.6 |
6.1 |
90.2.% |
Cash flow from operating activities |
-15.9 |
-8.8 |
-80.7% |
Cash flow from investing activities |
-18.8 |
-6.8 |
-176.5% |
|
|
|
|
|
30/09/2019 |
31/12/2018 |
|
Equity ratio |
36.9% |
38.3 % |
|
Net cash and cash equivalents*** |
81.9 |
77.3 |
6.0% |
Working Capital**** |
87.0 |
77.4 |
12.4% |
Average number of employees (excluding trainees) |
2,827 |
3,175 |
-11.0% |
* Consolidated net income before depreciation and amortization, financial result and income taxes
** Consolidated net income before financial result and income taxes, incl. non-recurring effects
*** Including securities held as current assets
**** Inventories plus trade receivables less trade payables
Contact:
HÖRMANN Holding GmbH & Co. KG
Hauptstrasse 45-47
D-85614 Kirchseeon
T +49 8091 5630 0
F +49 8091 5630 195
Financial and business press:
IR.on AG
Frederic Hilke
T +49 221 9140 970
hoermann@ir-on.com
About the HÖRMANN Group
The HÖRMANN Group has grown steadily since its foundation in 1955. HÖRMANN Holding GmbH & Co. KG is the parent company of 27 subsidiaries that operate in the Automotive, Communication, Engineering and Services divisions with a high degree of entrepreneurial initiative and independence. The HÖRMANN Group aims to offer its customers specific solutions and services that provide clear benefits and economic advantages. To achieve this, the HÖRMANN Group harnesses all of the broadly diversified and connected knowledge of its workforce of around 3,300 highly qualified employees across a wide range of technology areas.
www.hoermann-group. com
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