Wesentliche Kennzahlen der H&K AG-Gruppe

KPI (€m) Q3/2018*)Q4/2018*)Q1/2019*)Q2/2019*)Q3/2019*)Q4/2019*)Q1/2020*)Q2/2020*)
Order Intake 48,997,792,372,271,861,643,074,3
Net Sales (revenue) 54,157,358,168,658,953,967,671,8
EBITDA 5,12,83,58,89,38,811,912,6
Net Working Capital**) 89,380,977,278,286,186,4103,5111,0
Financial Debt**) 183,4230,7231,4232,0232,8233,5249,3248,8
Cash**) 13,522,322,128,624,023,427,827,8
Operating Cash Flow -11,512,07,25,3-2,34,7-2,86,9
Capex 1,53,51,53,02,13,22,82,1


*) 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 half of 2020 were €139 million, a 10% increase over the first half of 2019; this increase, together with continuing positive effects from the restructuring and process optimisation programmes we initiated in 2018 and 2019, enabled the generation of €25 million EBITDA, virtually double that generated in the first half of 2019. In February 2020, to ease compliance with certain loan conditions, we received an interest-bearing loan of €15 million from one of our main shareholders. Consequently liquidity improved against the year-end despite the high level of net working capital at the quarter-end, due primarily to the volume and timing of sales in the quarter resulting in a higher level of trade receivables.
In 2020, the Group has continued generating positive earnings after tax and, due to the encouraging order book and the ongoing optimisation programmes, we are positive that we have laid the groundwork so that our organisation could continue this trend.
The current COVID-19 crisis has not had a material direct effect on our overall results so far, however during Q2 we experienced some negative indirect effects, for example authorities or customers having less personnel or adjusted opening hours as an effect of the worldwide lockdown measures. We currently expect similar effects during Q3. The following guidance for the third quarter is based on the current situation, as it is known to us today, and so the actual Q3 2020 results may vary.
Q3/2020 Guidance: We currently expect to achieve similar net sales and EBITDA to Q2/2020. Net working capital is currently expected to be at a similar level to Q2/2020; the resulting operating cash flow is currently expected to be slightly better than for Q2/2020.

***)  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.

26/08/2020

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