Material key figures related to the H&K AG Group

KPI (€m) Q4/2016*)Q1/2017*)Q2/2017*)Q3/2017*)Q4/2017*)Q1/2018*)Q2/2018*)Q3/2018*)
Order Intake 52,473,830,748,461,063,080,748,9
Net Sales (revenue) 57,649,746,738,946,846,263,454,1
EBITDA 12,412,814,02,30,85,05,85,1
Net Working Capital**) 69,772,174,879,968,974,779,589,3
Financial Debt**) 219,5219,9220,3184,1182,2182,6183,0183,4
Cash**) 24,630,019,415,718,811,033,313,5
Operating Cash Flow 28,18,11,1-5,413,2-0,4-0,7-11,5
Capex 3,61,33,04,73,81,22,11,5


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

Chief Executive Officer Dr Jens Bodo Koch and Chief Financial Officer Dr Björn Krönert commented:
In the first nine months of 2018 Heckler & Koch’s order intake was higher than our sales and our order book more than covers our current expectations for the year’s sales. The change processes at our main site in Germany are still underway as planned; in particular the reorganisation of production processes has not yet been completed so improvements in efficiency and performance have not yet reached target levels. This, together with changes in the product mix, resulted in an EBITDA significantly below that achieved in the first nine months of 2017. The negative impact on operating cash flow and therefore on liquidity was lessened by an interest-free €30 million bridge loan received in April.

Q4/2018 Guidance***): We currently expect to achieve higher net sales than for Q3/2018, with EBITDA remaining at a similar level or somewhat below that achieved in Q3/2018. Net working capital is currently expected to be at a similar level to Q3/2018 however operating cash flow is currently expected to be better than in Q3/2018.

***)  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.

30/10/2018

OK
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