Salzbergen, Germany, 26 April 2011. H&R WASAG AG generated an outstanding operating result (EBITDA) of EUR 34.7 million in the 1st quarter of 2011.
Thanks to a positive economic environment and the resulting strong ongoing demand for all product groups worldwide, H&R WASAG AG exceeded financial analystsÃ¢â?¬â?¢ expectations in the first three months of the year.
Based on preliminary figures, revenues amounted to EUR 290.4 million in the 1st quarter (previous year: EUR 254.0 million), EBITDA came in at EUR 34.7 million (previous year: EUR 24.2 million) and EBT totalled EUR 26.9 million (previous year: EUR 17.2 million).
However, the margins for many crude oil-based speciality products shrank dramatically towards the end of the quarter due to the sharp rise in raw materials costs. Further price adjustments are therefore unavoidable.
It is unlikely that the company will repeat this performance in subsequent quarters. However, the excellent start to the year puts another three-digit full-year operating result (EBITDA in EUR million) within reach despite the highly volatile prices for raw materials and products.
The final report for the 1st quarter of 2011 will be published as planned on 13 May 2011.
H&R WASAG AG
Investor Relations / Communications
Neuenkirchener Straße 8, 48499 Salzbergen, Germany
Phone: +49 (0) 40-43218-321, Fax: +49 (0) 40-43218-390
H&R WASAG AG:
H&R WASAG AG is an SDAX listed specialist chemicals company. It develops and manufactures petroleum-based chemical and pharmaceutical products and high-precision plastic parts.
Forward-looking statements and forecasts:
This press release contains forward-looking statements. These statements are based upon current estimates and forecasts of the executive board as well as information that is available to the executive board at this point in time. They are not to be taken as guarantees of future developments and results. The future developments and results are much more dependent upon many factors. They contain various risks and uncertainties and are based upon assumptions that may prove to be inaccurate. We assume no obligation to update the forward-looking statements contained in this report.