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    PHH2   DE0007474041

PAUL HARTMANN AG

(PHH2)
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Paul Hartmann : HARTMANN's dynamic growth in previous quarters slows noticeably in first quarter of 2021

04/30/2021 | 02:04am EDT
Heidenheim, April 30, 2021. The coronavirus pandemic remains the dominant issue in the current financial year for HARTMANN's European core sales markets. The growth in sales seen over the course of the extraordinary year 2020, however, did not continue. Sales increases in the Infection Management segment compensated for a declining development in all other segments.
First quarter 2021 key financial figures

Sales and organic sales growth

Group

EUR 593.3 million (+2.0%)

Wound Management

EUR 111.4 million (-1.3%)

Infection Management

EUR 203.4 million (+23.9%)

Incontinence Management

EUR 168.6 million (-9.5%)

Other Group Activities

EUR 109.9 million (-6.7%)

  • Group: Overall, HARTMANN achieved organic sales growth of +2.0%. Sales revenues across all business segments amounted to EUR 593.3 million. If exchange rate effects as well as acquisitions and divestments are included, the Group recorded a sales decline of -1.7%. Adjusted EBITDA amounted to EUR 82.6 million. The earnings momentum slowed compared to the last quarter of 2020.
  • Wound Management: The Wound Management segment remained negatively impacted by a reduction in elective surgeries, as well as fewer visits to doctors, among other things. There is less demand for traditional wound products in particular. However, modern wound management concepts defied this trend and developed positively.
  • Infection Management: The development in the Infection Management segment is attributable to a strong demand for personal protective equipment. However, the business with disinfection products declined significantly due to customers building up large inventories and a general decline in market demand.
  • Incontinence Management: Room occupancy rates in hospitals and nursing homes remained at a low level. In addition, there was no significant stockpiling by customers comparable to the first quarter of 2020. Both factors led to a decline in sales of products from the Incontinence Management segment.
  • Other Group Activities: In the Other Group Activities segment, the pandemic is causing declining sales - at KOB due to lower demand for products for sports injuries, and at CMC Consumer Medical Care due to generally low demand for cosmetic products. Kneipp, on the other hand, continued catering very well to the trend of greater health awareness.
Outlook
HARTMANN assumes that the pandemic will continue to influence the course of business. As the further course of events remains unclear, there is still a high degree of uncertainty in the prognosis for financial year 2021. Against this backdrop, the Company confirms the outlook for financial year 2021 as published in the Annual Report with a moderate organic decline in sales and a declining adjusted EBITDA of EUR 210 to 260 million.
Britta Fünfstück, CEO of the HARTMANN GROUP:
'As expected, the year 2021 has gotten off to a challenging start. The coronavirus pandemic is having a significant negative impact on our performance in some business areas. For us, it therefore remains crucial to implement our Transformation Program consistently and successfully.'
Press Information Q1 2021 Download Presseinformation Q1 2021 Download

About the HARTMANN GROUP

The HARTMANN GROUP is a leading European provider of system solutions for medical applications and nursing. Healthcare professionals and patients rely every day on HARTMANN's product brands in the core segments of Incontinence Management (including MoliCare®), Wound Management (including Zetuvit®) and Infection Prevention (including Sterillium®). We bring this to life with our brand promise: 'Helps. Cares. Protects.' In 2020, HARTMANN achieved sales of EUR 2.4 billion. Founded in 1818, the company is present with its products and solutions in more than 130 countries. The HARTMANN GROUP is currently implementing its strategic Transformation Program with its high-performance, customer-oriented and passionate team.

Please find the latest information about HARTMANN, as well as our perspective on various healthcare topics and trends at https://hartmann.info/ or HARTMANN@LinkedIn.

Media contact:
Jeremy Whittaker
jeremy.whittaker@hartmann.info
+49 7321 36 1313

Disclaimer

Paul Hartmann AG published this content on 30 April 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 30 April 2021 06:03:11 UTC.


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Financials
Sales 2020 2 440 M 2 832 M 2 832 M
Net income 2020 106 M 124 M 124 M
Net cash 2020 169 M 196 M 196 M
P/E ratio 2020 11,9x
Yield 2020 2,25%
Capitalization 1 282 M 1 486 M 1 488 M
EV / Sales 2019 0,45x
EV / Sales 2020 0,45x
Nbr of Employees 10 622
Free-Float 17,9%
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Managers and Directors
Britta Fuenfstueck Chairman-Management Board & CEO
Stefan MŘller Chief Financial Officer
Fritz-JŘrgen Heckmann Chairman-Supervisory Board
Bernhard Wittmann Senior Vice President-Global Operations Management
Christine Geppert Member-Supervisory Board
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