- Revenue exceeds ââ??¬1 billion
- Operating result (EBITDA) soars by 57.6% to ââ??¬103.4 million
- EBITDA margin improves to 9.8% (previous year: 8.6%)
(NB: All the figures in this press release are provisional and have not yet been audited)
Salzbergen, Germany, 18 February 2011 H&R WASAG AG has posted all-time record figures for the 2010 financial year, generating revenue of ââ??¬1,056.8 million (previous year: ââ??¬762.3 million) and an operating result (EBITDA) of ââ??¬103.4 million (previous year: ââ??¬65.6 million). The EBITDA margin improved to 9.8% (previous year: 8.6%). EBIT grew by 83.4% to ââ??¬82.0 million (previous year: ââ??¬44.7 million). At ââ??¬52.0 million (previous year: ââ??¬25.0 million), the con-solidated net income attributable to shareholders more than doubled.
ââ?¬Å?We were able to run our refineries at almost full capacity throughout the entire re-porting period. The positive development in demand also prompted higher margins for our petroleum-based specialist products. As announced in the report for the 3rd quarter of 2010, the Executive Board will propose a much higher dividend to the Supervisory Board,ââ?¬Â said Gert Wendroth, Chief Executive Officer of H&R WASAG AG.
All segments record better results
Chemical-Pharmaceutical Raw Materials Domestic Segment improved its operating result by 67.7% to ââ??¬86.7 million (previous year: ââ??¬51.7 million). EBITDA in the interna-tional segment reached a new high of ââ??¬20.7 million (previous year: ââ??¬19.7 million). The restructuring measures in the Plastics Division bore fruit; following an op-erating loss of ââ??¬3.0 million in the previous year, the operating result (EBITDA) al-most broke even at ââ??‰â?¬â??0.3 million in the 2010 financial year.
Profits expected to rise further following 2011 transition
As expected, the rising prices for raw materials in recent weeks have normalised the margins for products from the Chemical-Pharmaceutical Division. Although demand remains good, the company believes it will prove difficult to repeat last year�s record result in the current financial year.
The new propane deasphalting plant has the potential to contribute an additional ââ??¬12.0 million to ââ??¬14.0 million annually to the operating result (EBITDA). Production is scheduled to start in the 4th quarter of 2011. This plant will convert a residue produced during the manufacturing process into environmentally friendly, mineral oil based speciality products.
In the coming years, the Plastics Division is also expected to return to making posi-tive contributions to the consolidated operating result (EBITDA).
ââ?¬Å?We therefore anticipate another rise in our operating result for 2012 all in all fol-lowing a transitional period in 2011,ââ?¬Â said Wendroth.
Upcoming events:
30 March 2011
Publication of final figures 2010
13 May 2011
Publication of Q1 Report 2011
31 May 2011
Annual Shareholders� Meeting in Hamburg
12 August 2011
Publication of Q2 Report 2011
14 November 2011
Publication of Q3 Report 2011
Contact:
H&R WASAG AG
Investor Relations / Communications
Christian Pokropp
Am Sandtorkai 64, 20457 Hamburg, Germany
Tel.: + 49 ââ?¬â?? (0) 40-43218-321, Fax: + 49 ââ?¬â?? (0) 40-43218-390,
www.hur-wasag.de
Christian.Pokropp(at)hur-wasag.de
Die H&R WASAG AG:
The SDAX-listed company H&R WASAG AG is active in the fields of development and manufacture of chemical-pharmaceutical specialty products based on crude oil, and in the production of precision plastic parts. In the individual divisions, the group company is positioned as a market and/or technological leader with excellent perspectives.
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.