DGAP-Ad hoc: H&R Aktiengesellschaft

DGAP-Adhoc: H&R AG: Preliminary figures for the first quarter of 2016 significantly improved

H&R Aktiengesellschaft / Key word(s): Preliminary Results/Quarter Results

21.04.2016 10:42

Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted by DGAP - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement.

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H&R AG: Preliminary figures for the first quarter of 2016 significantly improved

- Operating income (EBITDA) increased significantly to EUR27.2 million (first quarter of 2015: EUR15.5 million)

- Results for Refining segment more than doubled to EUR20.9 million

- Outlook for 2016 confirmed

Salzbergen, 21 April 2016. According to preliminary calculations, compared to the same period in the previous year, H&R Aktiengesellschaft (ISIN DE0007757007) significantly increased consolidated operating income (EBITDA) to EUR 27.2 million in the first quarter of 2016 (Q1 2015: EUR 15.5 million). EBIT more than doubled from EUR 8.1 million in the first quarter of 2015 to EUR 19.5 million. Likewise, both earnings before taxes (EBT) and consolidated earnings attributable to shareholders reflected the improvement in profitability, increasing from EUR 5.0 million and EUR 4.8 million, respectively, in the first quarter of 2015 to EUR 16.7 million and EUR 13.5 million in the first quarter of the current financial year. As in previous quarters, raw-materials prices caused sales to decline (by around 13.3%) from EUR 263.0 million in the first quarter of 2015 to EUR 228.0 million in the first quarter of 2016.

Most of the improvement in earnings was again generated by the ChemPharm Refining segment, which reported EUR 20.9 million of EBITDA (Q1 2015: EUR 9.8 million) despite a 15.1% decrease in sales from EUR 168.2 million in the first quarter of 2015 to EUR 142.8 million in the first quarter of 2016. While sales were impacted by the continued low prices of raw materials, overall demand and margins for primary products and by-products remained stable during the first quarter of 2016. Operating income from the international activities of the ChemPharm Sales segment was up 29.5%, with EBITDA improving from EUR 6.1 million in the first quarter of 2015 to EUR 7.9 million. At the beginning of the year, sales decreased moderately (by 5.6%) to EUR 77.5 million compared to the prior-year period (Q1 2015: EUR 82.1 million). While overall operating income in the Plastics segment was positive, both EBITDA (Q1 2016: EUR 0.2 million; Q1 2015: EUR 0.3 million) and sales (Q1 2016: EUR 13.5 million; Q1 2015: EUR 15.3 million) were lower compared to the prior-year figures.

Cash flow from operating activities totaled EUR 24.4 million in the first quarter of 2016 (Q1 2015: EUR -3.0 million); free cash flow totaled EUR 15.6 million (Q1 2015: EUR -8.8 million). There was a moderate increase in the balance sheet total from EUR 628.8 million as of 31 December 2015 to EUR 635.7 million on 31 March 2016. The cause: shareholders' equity increased from EUR 287.1 million to EUR 293.4 million over the same period. Compared to year-end 2015, the equity ratio again increased slightly (by 0.4 percentage points) to 46.1% (31 December 2015: 45.7%).

All in all, the company started the current financial year with very good preliminary figures for the first quarter. In light of the current discussions about oil-exporting countries' production volumes and the associated sensitivity of market quotations and product prices, as well as social and geopolitical challenges, H&R AG considers it appropriate to confirm its previous forecast for 2016 for the time being. The company therefore expects earnings to be at the same good level as in 2015.

Final figures for the first quarter of 2016 will be published on 13 May 2016, as scheduled. H&R AG's Annual Shareholders' Meeting will be held in Hamburg on 18 May 2016.

Contact Information: H&R AG, Investor Relations/Public Relations, Ties Kaiser Neuenkirchener Strasse 8, 48499 Salzbergen Tel.: +49 40 43218-321, Fax: +49 40 43218-390 e-mail: Ties.Kaiser@hur.com www.hur.com

H&R AG: H&R AG is a specialty-chemicals company listed on the Frankfurt Stock Exchange's Prime Standard segment. It develops and manufactures crude-oil-based chemical and pharmaceutical specialty products and produces high-precision plastic parts.

Forward-looking statements and forecasts: This ad-hoc announcement contains forward-looking statements. The statements are based on the current estimates and forecasts by the Executive Board and the information available to the Board at this time. These forward-looking statements do not provide any warranty for the future developments and results contained therein. The future developments and results are dependent on a number of factors; they entail various risks and contingencies and are based on assumptions which could prove to be incorrect. We do not assume any responsibility for updating the forward-looking statements contained in this ad-hoc announcement.

21.04.2016 The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de

--------------------------------------------------------------------------- Language: English Company: H&R Aktiengesellschaft Neuenkirchener Str. 8 48499 Salzbergen Germany Phone: +49 (0)40 43 218 321 Fax: +49 (0)40 43 218 390 E-mail: investor.relations@hur.com Internet: www.hur.com ISIN: DE0007757007 WKN: 775700 Listed: Regulated Market in Dusseldorf, Frankfurt (Prime Standard), Hamburg; Regulated Unofficial Market in Berlin, Hanover, Munich, Stuttgart End of Announcement DGAP News-Service ---------------------------------------------------------------------------