H&R GmbH & Co. KGaA Reports Preliminary Financial Outcomes for H1 2024

H&R GmbH & Co. KGaA has released its preliminary financial results for the first half of 2024. Sales revenues reached EUR 675.6 million, down from EUR 699.6 million in the same period in 2023. EBITDA improved slightly to EUR 41.1 million compared to EUR 39.4 million in the previous year.

In the second quarter of 2024, the consolidated operating result amounted to EUR 19.8 million. However, EBIT dropped to EUR 4.9 million from EUR 10.6 million last year due to higher depreciation and amortization. Earnings before taxes fell significantly to EUR 1.7 million from EUR 7.9 million in Q2 2023, driven by increased operating expenses and financing costs. Net income closed at EUR 1.3 million, compared to EUR 4.7 million in the same quarter last year.

The ChemPharm Sales segment led the earnings with an improved EBITDA of EUR 10.1 million in Q2 2024, up from EUR 7.4 million in Q2 2023. However, the Plastics segment reported a decline with an operating result of EUR 1.2 million for H1 2024, down from EUR 3.0 million the previous year.

Operating cash flow faced a downturn, posting a negative EUR 5.9 million in the second quarter of 2024, significantly lower than EUR 8.3 million in Q2 2023. Free cash flow also dropped, registering at EUR -18.3 million from EUR -7.1 million the previous year.

Total assets increased to EUR 988.5 million as of June 30, 2024, from EUR 903.2 million at the end of 2023. Equity remained stable at EUR 457.7 million. For the rest of the year, H&R expects an improvement in market conditions but refrains from revising its full-year forecast of EUR 90.0 to EUR 110.0 million in EBITDA.