H+H updates its outlook for 2019
| Company announcement no. 377 H+H updates its outlook for 2019 |
Following strong organic sales growth in the second quarter of 2019 and updated expectations to the second half of 2019, H+H adjusts its outlook for 2019.
Preliminary numbers for the second quarter of 2019:
| DKK million | Q2 2019 | Q2 2018 | H1 2019 | H1 2018 |
| Revenue | 770 | 709 | 1,436 | 1,143 |
| Organic growth | 7% | 16% | 13% | 11% |
| EBITDA before special items | 156 | 117 | 253 | 157 |
| EBIT before special items | 114 | 69 | 169 | 82 |
| EBIT margin before special items | 15% | 10% | 12% | 7% |
Besides strong sales, good performance in factory output and successful procurement efforts are contributing to the increased expectations.
The updated outlook for 2019 is:
- Growth before acquisitions and measured in local currencies is expected to be around 8% (previously around 7%).
- EBITDA before special items is expected to be DKK 510-550 million (previously DKK 460-510 million).
- EBIT before special items is expected to be DKK 330-370 million (previously DKK 280-330 million).
- Investments excluding acquisitions and divestments are expected to be in the region of DKK 140 million including investments for establishing a CSU production line near Gdansk, Poland and IFRS 16 effect (previously in the region of DKK 160 million).
H+H will publish the full interim financial report for second quarter of 2019 on 14 August 2019 mid afternoon.
Kent Arentoft Michael T Andersen
Chairman of the Board of Directors Chief Executive Officer
For further information please contact Michael T Andersen, Chief Executive Officer, or Bjarne Pedersen, Chief Strategy Officer, on telephone
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