H+h International A/s · OMXCOP:HH
H+h International A/s — FY2024 Earnings Presentation
14 slides from H+h International A/s's earnings presentation, Mar 5, 2025
Slide 1: H+H International A/S Q4/FY 2024 Financial Results
H+H International A/S Q4/FY 2024 Financial Results Roadshow at SEB 5 March 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: Q4 2024 financial highlights
Q4 2024 financial highlights Q4 2024 key takeaways Selected financial figures (1) Strong volume development in UK and Poland, Figures in DKKm unless otherwise stated. Q4 2023 figures in brackets while activity in Germany remained low. (2) Gross margin came in at 25% driven by sales volume and solid
Slide 4: Full year 2024 highlights
Full year 2024 highlights Financial Sustainability Organic growth EBITDA before special items Free cash flow Climate – Reduction in Percent DKKm DKKm scope 1 and 2 emissions 0% 250 219 13% Sales volume increased by 8%. This was In 2024, EBITDA before special items Free cash flow was DKK 219 million,
Slide 5: Streamlining the business
Streamlining the business Reshaping the business setup From 2022 To 2024 Volume 4.187 2.967 ‘000 m3 Avg. price 857 926 Rev. per m3 (DKK) # of plants 32 27 (3 mothballed) # of employees around 1.700 around 1.300 United Kingdom Poland SG&A 392 331 DKK million Central Western Europe Capex 197 156 Strat
Slide 6: 2024 saw strong volume recovery in Poland offset by Germany
2024 saw strong volume recovery in Poland offset by Germany Revenue by region in DKKm. (Revenue growth) Germany: • Building activity and permits are further declining (-19% vs. last year). 2023 2024 • Germany is in recession and no signs of market recovery in 2025. -18% • Economy was key topic in re
Slide 7: Poland and the UK driving organic growth in Q4
Poland and the UK driving organic growth in Q4 Volumes by quarter (Thousand m3) Revenue by quarter DKKm. Revenue growth / organic growth +8% / 6% +7% 731 729 699 725 779 775 641 644 649 723 740 719 601 694 634 648 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2023 Q2 2023 Q3 202
Slide 8: Gross margin came in at 25% driven by sales volume and solid plant performance
Gross margin came in at 25% driven by sales volume and solid plant performance Gross Profit and Gross Margin1 Gross Profit (DKKm) Gross Margin (%) 350 30 300 25 25% 24% 250 20 200 18% 17% 174 16% 164 15 150 132 109 10 100 94 50 5 0 0 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 ▪ Gross profit came in at
Slide 9: Positive cash flow in 2024 driven by sale of Warsaw and destocking
Positive cash flow in 2024 driven by sale of Warsaw and destocking 2024 Free cash flow DKKm ▪ Net working capital mainly driven by destocking offset by trade payables. ▪ Capex for the year were primarily related to the factory (156) upgrades in and the reopening of Pollington 1 in the UK. 207 279 ▪
Slide 10: Restructuring cost and special items
Restructuring cost and special items ▪ In Q4 2024, all conditions for the sale of land and buildings from the closed plant in Warsaw to a Polish residential developer were fulfilled. The sales price was paid in cash, and a gain of DKK 156 million was recognised as a special item. ▪ The restructuring
Slide 11: 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 12: Key takeaways
Key takeaways (1) With the streamlining of our organisation over the last two years, we enter 2025 on a stronger and more competitive foundation. (2) With the implementation of ONE in Germany and the rollout of HOME, we are further enhancing operational efficiency throughout the group. (3) In Poland
Slide 13: Questions and answers
Questions and answers 13
Slide 14: 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 14