Hawesko Holding AG Announces Consolidated Earnings Results for the Third Quarter and Nine Months Ended September 30, 2013; Provides Earnings Guidance for the Full Year 2013
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.