Brief: Hartmann Acquires Russian Gotek-Litar And Lifts Investment Outlook

Broedrene Hartmann A/S

10/09/2020 06:43

Sept 10 (Reuters) - Broedrene Hartmann  HARTb.CO :
    * SAID ON WEDNESDAY HARTMANN HAS ENTERED INTO AN AGREEMENT
WITH
THE SHAREHOLDERS OF GOTEK-LITAR JSC FOR THE ACQUISITION OF THE
COMPANY
    * THE PURCHASE PRICE IS DKK 116 MILLION BASED ON THE CURRENT
EXCHANGE RATE FOR RUSSIAN ROUBLES
    * HARTMANN INCREASES THE FULL-YEAR INVESTMENT OUTLOOK TO
AROUND
DKK 600 MILLION FROM AROUND DKK 450 MILLION
    * THE TRANSACTION WILL NOT AFFECT HARTMANN'S PROFIT MARGIN
IN 2020
    * ACQUISITION WILL STRENGTHEN HARTMANN'S EARNINGS PER SHARE
(EPS)
IMMEDIATELY AFTER CLOSING, WHICH IS EXPECTED TO BE COMPLETED IN
2020
    * THE ACQUISITION IS FINANCED WITHIN THE FRAMEWORK OF THE
GROUP'S
EXISTING CREDIT FACILITIES
    * HARTMANN MAINTAINS 2020 GUIDANCE OF REVENUE IN THE DKK
2.5-2.7
BILLION RANGE AND A PROFIT MARGIN OF 15-18% BEFORE SPECIAL ITEMS
AND RESTATEMENT FOR HYPERINFLATION

    
    
 Source text: https://bit.ly/35nIRcM
    
 Further company coverage:  HARTb.CO  
   


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