Brief: Hartmann Expands In The USA And Increases CAPEX Guidance

Broedrene Hartmann A/S

11/06/2019 13:56

June 11 (Reuters) - Broedrene Hartmann A/S  HARTb.CO :
    * REG-HARTMANN EXPANDS IN THE USA AND INCREASES CAPEX
GUIDANCE
    * EXPANSION ENTAILS AN ADJUSTMENT OF HARTMANN'S CAPITAL
EXPENDITURE GUIDANCE IN 2019 TO A LEVEL OF DKK 300 MILLION FROM
PREVIOUS LEVEL OF DKK 250 MILLION.
    * MAIN PART OF TOTAL INVESTMENT WILL BE MADE IN 2020
    * HARTMANN EXPECTS TO COMMISSION EXPANDED PRODUCTION
CAPACITY
TOWARDS END OF 2020, DRIVING A POSITIVE CONTRIBUTION TO GROUP
REVENUE AND OPERATING PROFIT IN 2021
    * HARTMANN MAINTAINS ITS 2019 GUIDANCE OF REVENUE IN DKK
2.2-2.4
BILLION RANGE WITH A PROFIT MARGIN OF 9-11% BEFORE SPECIAL ITEMS
AND RESTATEMENT FOR HYPERINFLATION
    * HARTMANN WILL INVEST AROUND DKK 100 MLN IN EXPANSION OF
PRODUCTION CAPACITY AT GROUP'S EXISTING FACTORY IN MISSOURI,
USA, DURING 2019-2020

Source text for Eikon:  ID:nGNE52bHDx 
Further company coverage:  HARTb.CO 

 (Gdynia Newsroom)
 ((gdynia.newsroom@thomsonreuters.com; +48 58 772 0920;))