H+H International A/S - Interim financial report 2012

H+H International A/S 

24.05.2012 07:38
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Company Announcement No. 264, 2012

Copenhagen, Denmark, 2012-05-24 07:38 CEST (GLOBE NEWSWIRE) -- 

H+H International A/S
Dampfærgevej 3, 3rd Floor
2100 Copenhagen Ø
Denmark
Telephone: +45 35 27 02 00
www.HplusH.com



Key figures for the period 1 January to 31 March 2012

  -- First-quarter revenue was DKK 297 million (2011: DKK 277 million). 
  -- First-quarter EBITDA was a negative DKK 2 million (2011: negative DKK 10
     million).
  -- There was a loss before tax of DKK 36 million (2011: loss of DKK 46
     million).
  -- Equity at 31 March 2012 was DKK 554 million. 
  -- Net interest-bearing debt at 31 March 2012 was DKK 743 million, on the back
     of unusual high working capital end of March 2012.
  -- As part of its continued focus on core business, H+H has entered into a
     conditional agreement to sell the house-building activities of the Finnish
     subsidiary Jämerä-kivitalot Oy. These activities have not been reported as
     continuing operations since the decision to divest the business was taken
     in the third quarter of 2011, and so the sale has had no impact on the
     first-quarter results.
  -- H+H reiterates its outlook for EBITDA before special items for the 2012
     financial year of around DKK 110-140 million for continuing operations.
  -- H+H also reiterates its outlook for free cash flow in 2012, which is
     expected to be positive in the region of DKK 0-20 million before disposals
     of assets.
  -- Total investments are expected to be in the region of DKK 50 million.

Please see attached pdf file for full version of the report.



Anders C Karlsson
Chairman of the Board of Directors

Michael T Andersen
CEO



For additional information please contact:
Michael T Andersen, CEO, or Niels Eldrup Meidahl, CFO, on telephone +45 35 27
02 00. 

This is a translation of the company's announcement in Danish. In case of
inconsistency between the Danish text and this English translation, the Danish
text will take precedence.
News Source: NASDAQ OMX



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Language:     English
Company:      H+H International A/S
              
               
              Denmark
Phone:        
Fax:          
E-mail:       
Internet:     
ISIN:         DK0015202451
WKN:          
 
End of Announcement                             DGAP News-Service
 
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