Company announcement No. 558, 2024
CHIEF EXECUTIVE OFFICER JÖRG BRINKMANN QUOTE
"In the first quarter, we saw signs of market improvements in the
PERFORMANCE HIGHLIGHTS FOR Q1 2024 (Q1 2023)
- Sales volume increased by 13% to 719k m3 (634k m3)
- Revenue growth measured in local currencies ("organic growth") was negative 4% (negative 25%)
-
Gross profit before special items was
DKK 109 million (DKK 154 million ), corresponding to a gross margin of 17% (24%) -
EBITDA before special items was
DKK 26 million (DKK 72 million ), corresponding to an EBITDA margin before special items of 4% (11%). -
EBIT before special items was negative
DKK 21 million (positiveDKK 21 million ), corresponding to an EBIT margin before special items of negative 3% (3%). -
Free cash flow was negative
DKK 91 million (negativeDKK 309 million ). - Financial gearing was 5.1 times EBITDA before special items at the end of Q1 2024 (1.4 times EBITDA at the end of Q1 2023).
-
Special items for the quarter was
DKK 129 million , of which 93 million relates to the settlement of the gas contract in accordance with plan.
FINANCIAL HIGHLIGHTS FOR THE PERIOD
DKK million | Q1 2024 | Q1 2023 |
Sales volume (thousand cubic metres) | 719 | 634 |
Revenue | 644 | 641 |
Organic growth | (4)% | (25)% |
Gross margin before special items | 17% | 24% |
EBITDA before special items | 26 | 72 |
EBITDA margin before special items | 4% | 11% |
EBIT before special items | (21) | 21 |
EBIT margin before special items | (3)% | 3% |
Special items | (129) | (9) |
Return on | (16)% | 15% |
NIBD/EBITDA before special items ratio | 5.1x | 1.4x |
Free cash flow | (91) | (309) |
FINANCIAL OUTLOOK FOR 2024
- Revenue growth measured in local currencies is expected to be ranging from -5% to +5%
-
EBIT before special items is expected to be in the range of
DKK 50 million toDKK 150 million
The financial outlook for 2024 is based on the following specific assumptions:
- Building activity in line with 2023 level
- Price discipline maintained in our key markets
-
Exchange rates, primarily GBP, EUR and PLN remain at
mid-May 2024 levels
Q1 2024 INTERIM FINANCIAL REPORT CONFERENCE CALL
In connection with the release of the Q1 2024 Interim Financial Report, a conference call for investors and analysts is scheduled for Wednesday
DK: +45 78 76 84 90
US: +1 646 787 0157
- Other participants can follow the conference call via live webcast here.
- The presentation slides for the conference call will be made available beforehand here.
- After the conference call, you can access the replay and transcript on H+H's Investor Relations website here
For further information please contact:
Head of Investor Relations &
+45 24 48 03 67
Nbk@hplush.com
http://publish.ne.cision.com//Release/ViewReleaseHtml/B85E7B2C9920C58BE0C856B0705FC7D6
https://mb.cision.com/Main/21438/3979701/2797648.pdf
https://mb.cision.com/Public/21438/3979701/bb18bd5a4ae49508.xlsx
https://mb.cision.com/Public/21438/3979701/976f5fa9f99b4ebc.pdf
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