HÖRMANN publishes financial results for the first nine months of 2019

HÖRMANN Industries GmbH (corporate bond, WKN: A2TSCH) announced its financial results for the first nine months of 2019. Accordingly, sales in the first three quarters of 2019 rose by 2.7% to EUR 440.9 million (9M 2018: EUR 429.3 million). Earnings before interest and taxes (EBIT) increased from EUR 11.0 million to EUR 17.4 million. At EUR 11.6 million, consolidated net income was also above the previous year's level (9M 2018: EUR 6.1 million).

Johann Schmid-Davis, CFO of HÖRMANN Industries GmbH: "The development of the HÖRMANN Group in the first nine months of 2019 was satisfactory and we assess the situation of the Group as positive. However, we cannot escape the effects of the economic slowdown, which is particularly affecting our Automotive and Services divisions. Nevertheless, our diversified corporate structure with its four business divisions enables us to at least partially compensate for cyclical fluctuations by our own efforts thanks to our wide-ranging activities. In addition, we are also well positioned at the financial level: Not least thanks to our early bond refinancing in June 2019. “

For 2019 as a whole, the management of HÖRMANN Industries GmbH is forecasting sales within a range of around EUR 590 million to EUR 600 million. Earnings before interest and taxes (EBIT) are expected to range from around EUR 21.5 million to EUR 23.0 million. 

The complete consolidated interim report of HÖRMANN Industries GmbH for the period from January 1 to September 30, 2019 is available at https://www.hoermann-gruppe.de/en/investor-relations/financial-publications/financial-publications.