“After a strong rebound of the
rebounded during Q3, yet our markets still show signs of volatility.”
Preliminary financial highlights for the period 1 January to
DKK million | Q3 2020 | Q3 2019 | Q1-Q3 2020 | Q1-Q3 2019 |
Revenue | 712 | 779 | 2.012 | 2.215 |
Gross margin before special items | 34% | 34% | 32% | 31% |
Organic growth | (7)% | 5% | (9)% | 10% |
Organic growth excluding the | (7)% | 7% | 2% | 8% |
EBITDA before special items | 162 | 182 | 396 | 435 |
EBIT before special items | 116 | 137 | 258 | 306 |
EBIT margin before special items | 16% | 18% | 13% | 14% |
NIBD/EBITDA ratio before special items ratio | 0.5 | 0.9 | 0.5 | 0.9 |
Special items | 0 | 0 | 0 | 0 |
Free cash flow | 136 | 136 | 166 | 175 |
Trading update
Current trading in the majority of our markets perform as expected with overall stable development in
During the third quarter of 2020, we have seen recovery in the
The
Updated financial outlook for 2020
Based on higher than expected demand in the
- Revenue growth before acquisitions, divestments and measured in local currencies is expected to be in the range -12% to -8% (previously in the range -16% to -8%)
- EBIT before special items is expected to be
DKK 290-320 million (previouslyDKK 250-300 million ) - Investments, excluding acquisitions, divestments and IFRS 16 effect, are expected to be
DKK 120-130 million (previouslyDKK 100-130 million )
The updated financial outlook for 2020 is based on the following specific assumptions:
- Any resurgence of covid-19 will not have severe impact in our markets
- No severe impact from disruption in supply chains and constructions sites due to the pandemic
- Financial liquidity is available in the markets to support housebuilding
H+H expect to publish Q3 2020 interim results on
For further information please contact:
CFO
H+H’s core activity is the manufacture and sale of wall building materials, with a revenue in 2019 of
Attachment
- 397- updated guidance and trading update
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