H+h International A/s · OMXCOP:HH
H+h International A/s — ABG Sundal Collier Small & Mid-Cap Seminar 2015
23 slides from H+h International A/s's conference presentation, Apr 16, 2015
Slide 1: ABG Sundal Collier Small & Mid-Cap Seminar
ABG Sundal Collier Small & Mid-Cap Seminar 16 April 2015
Slide 2: Forward-looking statement
2 Forward-looking statement The statements on the future in this presentation, including expected sales and earnings, are associated with risks and uncertainties and may be affected by factors influencing the activities of the Group, e.g. the global economic environment, including interest and excha
Slide 3: Agenda
Agenda Highlights Q4 and full year 2014 Financial performance Q4 and full year 2014 Grupa Prefabet Balance sheet items Outlook for 2015 Long-term financial targets Q&A
Slide 4: Highlights Q4 and full year 2014
Highlights Q4 and full year 2014
Slide 5: Highlights Q4 and full year 2014
5 Highlights Q4 and full year 2014 • Fourth-quarter revenue was DKK 325 million (2013: DKK 282 million). Revenue full year of DKK 1,380 million (2013: DKK 1,260 million) and organic growth of 9.4% against a guidance of 6-8% • Fourth-quarter EBITDA was DKK 29 million (2013: DKK 20 million). EBITDA fu
Slide 6: Highlights Q4 and full year 2014
6 Highlights Q4 and full year 2014 • Net interest-bearing debt at 31 December 2014 was DKK 517 million (2013: DKK 531 million). Credit facility of DKK 712 million with Danske Bank, committed until 15 February 2018 • The NIBD/EBITDA ratio of 3.7 at the end of 2014 against a ratio of 5.7 at the end of
Slide 7: Financial performance Q4 and full year 2014
Financial performance Q4 and full year 2014
Slide 8: Group financial performance
8 Group financial performance Q4 2014 Full year 2014 • Revenue up 15.3% in DKK and up • Revenue up 9.5 % in DKK and up 9.4% 14.6% in local currencies on Q4 2013 in local currencies on full year 2013 • The RUB exchange rate had a • The RUB exchange rate had a negative negative effect on revenue of DK
Slide 9: Segments – Western Europe
9 Segments – Western Europe Q4 2014 Full year 2014 • Revenue up 21.5% in DKK, up 17.2% • Revenue up 14.6 % in DKK, up 11.1% in local currencies on Q4 2013 in local currencies on full year 2013 • Revenue growth was primarily driven • For the individual countries, same trend by higher revenue in the U
Slide 10: Segments – Eastern Europe
10 Segments – Eastern Europe Q4 2014 Full year 2014 • Revenue down 5.7% in DKK, up 5.1% • Revenue down 5.2% in DKK, while up in local currencies on Q4 2013 4.6% in local currencies on full year 2013 • Revenue decrease measured in DKK due to the unfavourable exchange rate • Russia saw higher sales vo
Slide 11: Grupa Prefabet
Grupa Prefabet
Slide 12: Acquisition of Grupa Prefabet
12 Acquisition of Grupa Prefabet • The Polish aircrete market is the biggest in Europe but activity levels have dropped significantly in recent years due to the economic slowdown, leading to extensive overcapacity, very low selling prices and, in consequence, a lack of profitability among producers
Slide 13: Integration of Grupa Prefabet
13 Integration of Grupa Prefabet • Integration plan is in progress and running according to plan • EBITDA, excluding special items, is expected to increase by approximately DKK 10 million in 2015, partly due to planned synergies • Redundancies of 200 FTE and higher sourcing concentration will contri
Slide 14: Balance sheet items
Balance sheet items
Slide 15: Investments and free cash flow
15 Investments and free cash flow • Investments of DKK 15.4 million were made during the fourth Q4 Full year quarter, against DKK 17.8 million in 2013. Total investment in of DKK 42.6 million were made during 2014, against DKK Amounts in DKK million 2014 2013 2014 2013 35.5 million in 2013 Western E
Slide 16: Net interest-bearing debt
16 Net interest-bearing debt • Net interest-bearing debt totalled DKK 517.3 million on 31 December 2014, down DKK 14.3 million on 31 December 2013 • Credit facility of DKK 712 million with Danske Bank, committed until 15 February 2018. H+H will continue to be dependent on debt financing the coming y
Slide 17: Equity
17 Equity • Equity decreased by DKK 142.2 million in 2014. The result for the period decreased equity by DKK 23.1 million • Foreign exchange adjustments decreased equity by DKK 91.5 million, largely driven by the decrease in the RUB • Decline in corporate bonds yield in November and December lead to
Slide 18: Outlook for 2015
Outlook for 2015
Slide 19: External market indicators for 2015
19 External market indicators for 2015 The % indicates H+H management estimate to the market growth in our core segments. Red numbers indicate negative growth.
Slide 20: Outlook for 2015
20 Outlook for 2015 • Organic revenue growth is expected to be 6-8% • EBITDA before special items is expected to be DKK 150-170 million • EBIT margin of 3-4% • Investments excluding acquisitions and divestments are expected to be DKK 60 million, including the DKK 20 million to support the restructur
Slide 21: Comments to outlook for 2015
21 Comments to outlook for 2015 The expectations for H+H’s financial performance in 2015 are based partly on the following specific assumptions: • Economic growth of around 0-3% in our geographical footprint. • The operational excellence programme continues and reduces production costs further. • Ex
Slide 22: Long-term financial targets
22 Long-term financial targets
Slide 23: H+H Q&A
H+H Q&A
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