Hawesko Holding AG announced consolidated earnings results for the third quarter and nine months ended September 30, 2013. For the quarter, the company reported sales rose in comparison to the same quarter in the previous year €92.3 million by 8.3% to €100.0 million before VAT, so that the group accelerated its growth over the course of the year as expected. The operating result (EBIT) in the third quarter of 2013 amounted to €2.0 million, up by 4.0% compared to €1.9 million a year ago. Net income after deductions for taxes and non-controlling interests for the quarter under review and earnings per share thus amounted to nil compared to €1.2 million and €0.13 per share a year ago.

For the nine months, the company reported sales rose by 4.0% to €317.0 million compared to €304.7 million a year ago. The operating result (EBIT) at €12.3 million was €1.6 million or 11.5% below the figure for the previous year of €13.9 million. Net income after deductions for taxes and non-controlling amounted to €6.4 million and €0.71 per share; the figures for the same period in the previous year were €8.8 million and €0.98 per share. Net outflow of payments from current operations ­was €6.3 million compared to €­10.2 million a year ago. Out payments for tangible and intangible assets was €­3.5 million compared to €­4.9 million a year ago.

The company provides earnings guidance for the full year 2013. For the period, the company expected sales will be 4-5% higher than in the previous year of €449 million and the result from operations (EBIT) will be in the range of €22-24 million. Profit due to non-controlling interests is projected to rise to approximately 0.8 million compared to 0.3 million a year ago. Consolidated net income is expected to be below the level of the previous year. Free cash flow is expected to be in the range of Roughly 10 million for 2013, with a further increase in 2014.