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Harvia’s interim report 1 January – 31 March 2020

Discussion in 'United Kingdom Stock Exchange' started by Simonson Harry, Apr 28, 2020.

  1. Simonson Harry

    Simonson Harry Well-Known Member

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    Harvia’s interim report 1 January – 31 March 2020

    April 28, 2020 02:00 ET | Source: Harvia Oyj

    multilang-release
    Harvia Plc, Interim report, 28 April 2020 at 9.00 a.m. EET

    Harvia’s interim report 1 January – 31 March 2020

    Profitable growth continued

    This release is a summary of Harvia Plc’s Interim Report January–March 2020. The complete report is attached to this release as a pdf-file. It is also available on Harvia’s website at https://harviagroup.com/.

    Highlights of the review period

    January–March 2020

    • Revenue grew by 5.6% to EUR 20.4 million (19.3). At comparable exchange rates, revenue grew by 4.8% to EUR 20.2 million.
    • Adjusted operating profit grew to EUR 4.2 million (4.0), making up 20.6% (20.6) of the revenue. At comparable exchange rates, the adjusted operating profit grew to EUR 4.1 million (20.4% of the revenue).
    • Operating profit was EUR 3.1 million (3.8), making up 15.3% (19.9) of the revenue. At comparable exchange rates, the operating profit was EUR 3.0 million (15.0% of the revenue).
    • Operative free cash flow amounted to EUR 5.9 million (1.7).
    • Net debt amounted to EUR 24.3 million (31.6) and leverage was 1.4 (2.3).
    • Equity ratio increased to 57.1% (55.7).
    • In March, Harvia announced that it had signed an agreement to acquire the majority of the German EOS Group.
    • Due to the coronavirus pandemic, Harvia has taken special measures to ensure the safety of its personnel and safeguard the continuity of its operations and services in all of its units. The effects of the pandemic on Harvia’s business and result were minor during the review period.
    Key figures

    EUR million 1-3/2020 1-3/2019 Change, % 2019
    Revenue 20.4 19.3 5.6% 74.1
    EBITDA 3.9 4.6 -14.6% 16.4
    % of revenue 19.3% 23.9% 22.2%
    Items affecting comparability * 1.1 0.1 766.2% 0.6
    Adjusted EBITDA ** 5.0 4.7 6.2% 17.0
    % of revenue 24.7% 24.5% 22.9%
    Operating profit 3.1 3.8 -19.2% 13.3
    % of revenue 15.3% 19.9% 18.0%
    Adjusted operating profit ** 4.2 4.0 5.8% 13.9
    % of revenue 20.6% 20.6% 18.7%
    Basic EPS (EUR) 0.13 0.14 -8.7% 0.51
    Operating free cash flow 5.9 1.7 243.9% 15.2
    Cash conversion 117.4% 36.3% 89.3%
    Investments in tangible and intangible assets -0.3 -0.5 -33.9% -1.8
    Net debt 24.3 31.6 -23.1% 28.3
    Leverage 1.4 2.3 1.7
    Net working capital 15.2 20.2 -24.4% 16.8
    Adjusted return on capital employed (ROCE) 37.7% 30.9% 38.2%
    Equity ratio 57.1% 55.7% 56.6%
    Number of employees at end of period 399 390 2.3% 395

    Source:https://www.globenewswire.com/news-...s-interim-report-1-January-31-March-2020.html
     
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