H+h International A/s · OMXCOP:HH
H+h International A/s — Q1 2025 Earnings Presentation
12 slides from H+h International A/s's earnings presentation, May 21, 2025
Slide 1: H+H International A/S Q1 2025 Financial Results
H+H International A/S Q1 2025 Financial Results Roadshow at Danske Bank 21 May 2025
Slide 2: Forward-looking statements
Forward-looking statements This presentation contains forward-looking statements. Such statements are subject to risks and uncertainties, as various factors, many of which are beyond the control of H+H International A/S, may cause actual developments and results to differ materially from the expecta
Slide 3: Q1 2025 financial highlights
Q1 2025 financial highlights Q1 key takeaways Selected financial figures (1) Strong volume growth in the UK, reinforcing a Figures in DKKm unless otherwise stated. Q1 2024 figures in brackets positive long-term outlook. Ongoing ramp-up of production capacity impacting gross margin. (2) In Germany, m
Slide 4: UK drives volume growth offset by Poland and Germany
UK drives volume growth offset by Poland and Germany UK registrations/Building Permits in '000 3m rolling y/y (%) Organic growth in Q1-2025 (%) United Kingdom 11% Poland -4% Germany (CWE) 3% 30 60% 40 40% 35 10% 35 30 25 40% 0% 30 20% 25 20 20% 25 20 -10% 15 0% 20 0% 15 -20% 15 10 -20% 10 10 -20% -3
Slide 5: After two years of restructuring, focus is now on profitable growth
After two years of restructuring, focus is now on profitable growth Focus 2023 + 2024 Focus 2025 and beyond From 2025 onwards, the focus will shift to delivering profitable growth, Launch of H+H’s streamlining program in 2023 entails a shift in driven by the Group’s unique growth platform and ongoin
Slide 6: Higher sales prices more than offsets lower volumes
Higher sales prices more than offsets lower volumes Volumes by quarter (Thousand m3) Revenue by quarter DKKm. Revenue growth (%) UK Poland CWE -2% +5% 779 775 725 729 719 702 649 675 694 644 247 234 184 206 210 210 224 212 215 197 245 268 271 246 253 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q1 2024 Q
Slide 7: Gross margin impacted by the continuous decline in DE and operational inefficiencies in the UK
Gross margin impacted by the continuous decline in DE and operational inefficiencies in the UK Gross Profit and Gross Margin1 Gross Profit (DKKm) Gross Margin (%) 350 30 300 25 25% 24% 250 22% 20 200 18% 17% 174 164 15 146 150 132 109 10 100 50 5 0 0 Q1 2024 Q2 2024 Q3 2024 Q4 2025 Q1 2025 ▪ Ongoing
Slide 8: Cash flow in Q1 affected by working capital changes in line with expectations
Cash flow in Q1 affected by working capital changes in line with expectations Q1 2025 Free cash flow development (DKKm) Comments 64 ▪ Net working capital was mainly affected by normal seasonality and planned payments of provisions. ▪ Financial gearing in Q1 2025 was 2.7 times EBITDA before special i
Slide 9: Financial outlook
Financial outlook Organic growth EBIT before special items (DKKm) 5% to 10% 120 to 180 (2024: 0%) (2024: 63) Organic revenue growth for 2025 is expected EBIT before special items is expected to to be in the range between 5% to 10% range between DKK 120 to 180 million. Key assumptions ▪ Modest volume
Slide 10: Key takeaways
Key takeaways (1) Strong volume growth in the UK, reinforcing a positive long- term outlook. Full margin impact expected in H2. (2) In Germany, market challenges persist, and we haven’t seen the full potential of our business yet. (3) In Poland, the underlying fundamentals remain strong. (4) Our foc
Slide 11: Questions and answers
Questions and answers 11
Slide 12: For further information, please contact Niclas Bo Kristensen
For further information, please contact Niclas Bo Kristensen Head of Investor Relations and Treasury nbk@HplusH.com H+H International A/S Lautrupsgade 7, 5th Floor 2100 Copenhagen Ø Denmark +45 35 27 02 00 info@hplush.com www.hplush.com 12