Wesentliche Kennzahlen der H&K AG-Gruppe

KPI (€m) Q2/2018*)Q3/2018*)Q4/2018*)Q1/2019*)Q2/2019*)Q3/2019*)Q4/2019*)Q1/2020*)
Order Intake 80,748,997,792,372,271,861,643,0
Net Sales (revenue) 63,454,157,358,168,658,953,967,6
EBITDA 5,85,12,83,58,89,38,811,9
Net Working Capital**) 79,589,380,977,278,286,186,4103,5
Financial Debt**) 183,0183,4230,7231,4232,0232,8233,5249,3
Cash**) 33,313,522,322,128,624,023,427,8
Operating Cash Flow -0,7-11,512,07,25,3-2,34,7-2,8
Capex 2,11,53,51,53,02,13,22,8


*) 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 Q1 2020 were €68 million, an increase of 16% compared to Q1 2019; this increase, together with positive effects from the restructuring and process optimisation programmes we initiated in 2018 and 2019, enabled the generation of €12 million EBITDA, more than triple that of Q1 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, which was 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.

Q2/2020 Guidance***): We currently expect to achieve slightly higher net sales than in Q1/2020 with EBITDA at a slightly lower level than in Q1/2020. Net working capital is currently expected to be at a similar level to Q1/2020; operating cash flow is currently expected to be significantly better than for Q1/2020.

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***)  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.

29/05/2020

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