<img height="1" width="1" style="display:none" src="https://www.facebook.com/tr?id=617357065128553&amp;ev=PageView&amp;noscript=1">

Haldor Topsoe maintains solid performance in first half of 2013

15.08.2013

In the first half of 2013, Haldor Topsoe A/S maintained a solid performance level achieving profitability and growth rates in line with the company’s overall ambitions. The ongoing expansion and modernization of the chemical, refining, power, and automotive industries continue to drive demand for Topsoe’s catalysts and related process technologies across the globe.

Topsoe experienced  a satisfactory revenue growth rate in the first half of 2013. Progress is based on a strong interest for the solutions that Topsoe offers to address key global challenges related to the environment, energy efficiency and food supply.

Financial highlights from the first half of 2013:

  • Group revenue amounted to DKK 2,842 million, an increase of 14% compared to same period last year.
  • EBIT was DKK 403 million compared to DKK 315 million in the first half of 2012.
  • Net profit was DKK 311 million compared to DKK 228 million in the first half of 2012.
  • Cash flow from operations was DKK 516 million compared to DKK 347 in the first half of 2012.
  • Capital expenditure increased to DKK 298 million compared to DKK 124 million in the first half of 2012 reflecting the investments being made to establish additional production lines in Frederikssund, Denmark and Houston, Texas - Topsoe’s two primary production sites.

A change of estimate of warranty provisions related to technology projects had a positive impact on EBIT (DKK 105 million) and net profit (DKK 79 million) in the first half of 2013.

“During the first half of 2013, we observed healthy growth and solid financial performance across our business. Meanwhile, we invested substantially in laying the foundation for future growth and profitability by expanding our key production sites in Denmark and the US and by increasing our significant investments in R&amp;D”, says Peter Rønnest Andersen, Chief Financial Officer in Haldor Topsoe.


Key financial figures for Haldor Topsoe A/S Group (DKK million)
 

 

 

1st half year 2013

1st half year 2012

Revenue

2,842

2,497

EBIT

403

315

Net profit

311

228

     
 

June 30, 2013

December 31, 2012

Non-current assets

2,261

2,111

Current assets

3,747

3,392

Assets total

6,008

5,503

Equity

1,438

1,422

Liabilities

4,570

4,081

Equity and liabilities total

6,008

5,503

     
 

1st half year 2013

1st half year 2012

Cash and cash equivalents beginning

1,009

812

Cash flow from operations

516

347

Change in working capital

-400

187

Cash flow from operating activities

116

534

Cash flow from investment activities

-298

-124

Cash flow from financing activities

257

53

Cash and cash equivalents end

1,084

1,275

     
 

1st half year 2013

1st half year 2012

Equity beginning

1,422

1,307

Change in comprehensive income

316

237

Change in transactions with owners

-300

-100

Equity end

1,438

1,444

     


The half year figures have not been reviewed by the company’s auditors. The audited Annual Report 2013 will be published by Haldor Topsoe on March 19, 2014. Annual reports and financial statements are available at www.topsoe.com.


Investor relations contact
Peter Rønnest Andersen
Chief Financial Officer,


Press contact 
Kristine Ahrensbach, VP
Corporate Communications & Marketing
Tel.: +4525529547

Comments