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H&R GmbH & Co. KGaA, DE000A2E4T77

H&R GmbH & Co. KGaA, DE000A2E4T77

22.07.2021 - 10:04:37

H&R GmbH & Co. KGaA: Preliminary figures for the first half year of 2021

Insider information pursuant to Article 17?of the Market Abuse Regulation [MAR]

H&R GmbH & Co. KGaA: Preliminary figures for the first half year of 2021

- The catch-up effects of the spring continued for the entire first half of 2021 - EBITDA of EUR 74.4 million significantly above previous year (EUR 16.6 million) - Expected earnings for 2021 specified at the upper end of the guidance?

Salzbergen, Germany, July 22, 2021. At the end of the first half of 2021, H&R GmbH & Co. KGaA (H&R KGaA for short; ISIN DE000A2E4T77) again benefited significantly from the macroeconomic catch-up effects and the sustained positive development in demand and prices for chemical-pharmaceutical specialties. According to preliminary calculations, the consolidated operating result (EBITDA *) was EUR 48.7 million in the second quarter (Q2-2020: EUR 5.9 million) and thus rose again significantly compared to the already good start of the year. At the other levels, the results recovered accordingly: EBIT closed at EUR 36.0 million after last year's EUR -6.7 million. Earnings before taxes (EBT) in the second quarter of 2021 were EUR 33.2 million (Q2- 2020: EUR -9.0 million), the company closed the net result attributable to the shareholders with EUR 23.7 million (Q2-2020: EUR -8.9 million). Sales revenues in the second quarter of the current financial year rose to EUR 317.2 million (Q2-2020: EUR 182.4 million) due to raw material prices.

Looking at the entire first half of 2021, there was an equally significant increase in EBITDA compared to the previous year. The company provisionally achieved an operating result (EBITDA) of EUR 74.4 million (1st half of 2020: EUR 16.6 million). With depreciation and amortization almost identical to the previous year, the results also recovered in the six-month period: EBIT amounted to EUR 49.1 million (1st half of 2020: EUR -8.7 million). Earnings before taxes (EBT) showed a comparatively strong recovery trend at EUR 44.5 million (1st half of 2020: EUR -12.7 million). The shareholders' net result closed at EUR 31.0 million (1st half of 2020: EUR -13.6 million). H&R KGaA thus generated earnings per share of EUR 0.83, of which EUR 0.64 came from the second quarter of 2021 (1st half of 2020: EUR -0.37; Q2-2020: EUR -0.24). With a stronger second quarter of 2021, revenues of EUR 558.5 million exceeded the previous year's figure (1st half of 2020: EUR 441.8 million).

The positive development with which H&R started the financial year obviously continued in the second quarter.

The ChemPharm Refining segment made the main contribution to earnings. The activities of our two specialty refineries recorded significantly improved operating results this year at EUR 41.4 million in the second quarter and EUR 58.9 million in the first half of the year (Q2-2020: EUR 2.0 million; 1st half of 2020: EUR 7.0 million). Sales in the first half of the year were also up on the previous year at EUR 352.0 million (1st half of 2020: EUR 276.9 million). The ChemPharm Sales segment improved in the second quarter of 2021 to an EBITDA of EUR 7.6 million (Q2-2020: EUR 4.7 million). The segment also reports a noticeably recovered result for the six-month period at EUR 15.2 million (1st half of 2020: EUR 11.4 million). Sales in the segment also increased strongly and reached EUR 190.7 million for the first half of the year (1st half of 2020: EUR 150.9 million). The Plastics segment achieved an operating result of EUR 1.8 million, which was EUR 1.9 million better than in the same period of the previous year. At quarterly level, the improvement was EUR 0.9 million and thus reached exactly this value as the operating result. Sales also rose to EUR 10.6 million and EUR 21.5 million compared to the previous year's figures (Q2-2020: EUR 7.2 million; 1st half of 2020: EUR 18.2 million).

The operating cash flow for the first half of 2021 shows the effects of the increased raw material costs, which resulted in a significantly higher net working capital requirement. In total, it was EUR 5.2 million in the second quarter of 2021 (Q2-2020: EUR 36.5 million), the free cash flow was EUR -12.2 million (Q2-2020: EUR 35.8 million). The half-year report is correspondingly subdued, with an operating cash flow of EUR 1.1 million (1st half of 2020: EUR 39.4 million) and the free cash flow of EUR -24.4 million (1st half of 2020: EUR 13.6 million).

The balance sheet total increased from EUR 745.7 million as of December 31, 2020 to EUR 855.6 million. Equity increased from EUR 346.9 million to EUR 385.0 million in the same period. As of June 30, 2021, the Company's equity ratio was 45.0% (December 31, 2020: 46.5 %).

The company got off to a good start in the financial year and took advantage of the positive momentum of spring beyond the middle of the year. As a result, the management raised the guidance for the full year a few weeks ago to a range of EUR 95.0 million to EUR 115.0 million. On the basis of the current figures and despite assuming a good, but possibly weaker earnings situation in the coming six months compared to the first half of the year, H&R is specifying this expectation at the upper end of the range for the time being and thus expects an EBITDA of at least EUR 115.0 million.

The final financial figures and additional information on business performance to date in 2021 will be published as planned on August 13, 2021 in the half-year financial report.

* Consolidated income before tax, other financial income and expenses and depreciation/amortization, impairment and appreciation of fixed assets and property, plant and equipmentContact: H&R GmbH & Co. KGaA, Head of Investor Relations / Communication, Ties Kaiser Neuenkirchener Stra?e 8, 48499 Salzbergen Phone.: +49 40 43218-321, Fax: +49 40 43218-390 Mail: ties.kaiser@hur.comwww.hur.com

H&R GmbH & Co. KGaA: H&R KGaA is a specialty-chemicals company listed on the Frankfurt Stock Exchange's Prime Standard segment. It develops and manufactures crude-oil-based chemical and pharmaceutical specialty products and produces high-precision plastic parts.

Forward-looking statements and forecasts: This insider information pursuant to Article 17 of the Market Abuse Regulation [MAR] contains forward-looking statements. The statements are based on the current estimates and forecasts by the Management Team and the information available to it at this time. These forward-looking statements do not provide any warranty for the future developments and results contained therein. The future developments and results are dependent on a number of factors; they entail various risks and contingencies and are based on assumptions which could prove to be incorrect. We do not assume any responsibility for updating the forward-looking statements contained in this insider information pursuant to Article 17 of the MAR.

22-Jul-2021 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.de

Language: English Company: H&R GmbH & Co. KGaA Neuenkirchener Str. 8 48499 Salzbergen

Germany Phone: +49 (0)40 43 218 321 Fax: +49 (0)40 43 218 390 E-mail: investor.relations@hur.com Internet: www.hur.com ISIN: DE000A2E4T77 WKN: A2E4T7 Listed: Regulated Market in Dusseldorf, Frankfurt (Prime Standard), Hamburg; Regulated Unofficial Market in Berlin, Hanover, Munich, Stuttgart, Tradegate Exchange EQS News ID: 1220862 ? End of Announcement DGAP News Service


@ dgap.de