Wesentliche Kennzahlen des H&K AG Konzerns

KPI (€m) Q4/2019*)Q1/2020*)Q2/2020*)Q3/2020*)Q4/2020*)Q1/2021*)Q2/2021*)Q3/2021*)
Order Intake 61,643,074,348,560,153,863,164,6
Net Sales (revenue) 53,967,671,868,167,563,480,166,5
EBITDA 8,811,912,615,59,910,418,114,4
Net Working Capital**) 86,4103,5111,0103,395,5107,5105,7104,1
Financial Debt**) 233,5249,3248,8249,8240,6241,5241,5240,5
Cash**) 23,427,827,837,633,325,634,337,7
Operating Cash Flow 4,7-2,86,919,717,8-1,818,013,3
Capex 3,22,82,15,16,90,92,61,9


*) unaudited consolidated quarterly figures
**) as at the quarter-end

Chief Executive Officer Dr Jens Bodo Koch and Chief Financial Officer Dr Björn Krönert commented:

Sales in the first nine months of 2021 were €210 million, a 1% increase over the first nine months of 2020. We generated €43 million EBITDA in the first nine months, a 7% increase over the corresponding period of 2020. Liquidity increased during the first nine months, with profit generated being sufficient to finance not only the higher level of net working capital at the period-end – in particular, the volume and timing of sales and receipts from customers led to a higher level of trade receivables – but also the cash flows for our investing and financing activities, including a total of €3 million SFA-loan prepayments. 

The Group continues to generate positive earnings after tax and, due to the ongoing optimisation programmes, the benefits from investments in new plant and machinery, and the current order book, we are positive that we have laid the groundwork so that our organisation could continue this trend. 

In Q1 2021, the German Federal Office of Bundeswehr Equipment, Information Technology and In-service Support (BAAINBw) informed us that, since the only other competitor had been excluded from the procurement procedure, it was intended that the new assault rifle for the German Army be procured from HK. That competitor requested a review of the BAAINBw’s decision, however in June 2021 the German Federal Cartel Office (BKartA) rejected the challenge. The competitor has filed an appeal against the BKartA’s decision and hearings are expected in 2022.

So far, due to the preventative measures implemented by Heckler & Koch to protect our employees and our business, together with proactive communication with customers and suppliers, the COVID-19 pandemic has not led to significant restrictions on our delivery chain. However, at this point in time we cannot make predictions for the balance of 2021, particularly given the increasing impact of virus mutations, since measures taken by the Federal and State Governments could affect our supply-chains and production. The following guidance for the next quarter is based on the current situation, as it is known to us today, and so the actual Q4 2021 results may vary. 

Q4 2021 Guidance***: In Q4/2021, we currently expect to achieve higher net sales but, similar to Q4/2020, slightly lower EBITDA than in Q3/2021. Net working capital is currently expected to be slighlty lower than in Q3/2021; the resulting operating cash flow is currently expected to be positive.

***)  This report includes forward-looking statements. These forward-looking statements can be identified by the use of forward-looking terminology, including the terms “believes,” “estimates,” “anticipates,” “expects,” “intends,” “may,” “will” or “should” or, in each case, their negative, or other variations or comparable terminology, or by discussions of strategy, plans or intentions. These forward-looking statements include statements that are not statements of historical facts and relate to our current intentions, beliefs or expectations concerning, among other things, our results of operations, financial condition, liquidity, prospects, growth, strategies and the industry in which we operate.

By their nature, forward-looking statements involve risk and uncertainties because they relate to events and depend on circumstances that may or may not occur in the future. We caution you that forward-looking statements are not guarantees of future performance and that our actual results of operations, financial condition and liquidity, and the development of the industry in which we operate may differ materially from those made in or suggested by the forward-looking statements contained in this report, in statements made by HK representatives in their presentations or in a “Question and Answer” period following such presentations. In addition, even if our results of operations, financial condition and liquidity, and the development of the industry in which we operate are consistent with the forward-looking statements contained in this report, those results or developments may not be indicative of results or developments in subsequent periods.

All written and oral forward-looking statements attributable to us or to persons acting on our behalf are expressly qualified in their entirety by the above cautionary statements.

29/11/2021

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