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PAUL HARTMANN AG
Paul-Hartmann-Strasse 12
89522 Heidenheim
Phone: +49 (0) 7321 36-0
Fax: +49 (0) 7321 36-3636
hartmann.info
P.O. Box 1420
89504 Heidenheim
Germany
Press Release
Double-digit increase in EBIT and consolidated net income
HARTMANN again exceeds the previous year's record sales
Heidenheim, March 26, 2015. In fiscal year 2014, the HARTMANN GROUP increased global
sales revenues to EUR 1,862.0 million. This is an increase of 3.8% compared to previous
year's record. Business outside the eurozone was negatively impacted by adverse
exchange-rate movements, especially from the weakening Russian ruble and Australian
dollar. Excluding exchange-rate and acquisition effects, organic growth was 4.8% and
therefore again above market growth. EBIT increased 20.0% to EUR 122.4 million. The
consolidated net income was EUR 78.3 million, an increase of 25.4% compared to previous
year.
In the Wound Management segment, HARTMANN increased its sales revenues by 3.9% to EUR
407.5 million in the year under review. Organic growth was 4.8%. Both our negative-pressure
wound therapy system sold under the Vivano brand and HydroTherapy, the innovative
HARTMANN concept for the treatment of hard to heal wounds, realized good growth. HARTMANN
continued its steady growth in the postoperative dressing category.
In the Incontinence Management segment, global sales revenues increased by 1.0% to EUR 627.3
million. Organic growth was 2.5%. With a structural share of 33.7%, the Incontinence Management
segment was again the segment with the highest sales in the HARTMANN GROUP in 2014. In
fiscal year 2014, HARTMANN continued its steady success of MoliCare Mobile with good growth.
The medical hygiene products and Menalind professional, the skin-care range for the skin of
elderly people, continued to be well received by our customers.
In the Infection Management segment, global sales revenues rose 4.8% to EUR 441.1 million in
2014. Organic growth was 5.5% resulting from sales at home and abroad. As for the product range
for comprehensive infection prevention, custom surgical sets offered under the CombiSet brand
and surgical clothing offered under the Foliodress brand recorded good growth. Our range of
disposable surgical instruments further added to the sales growth in both the inpatient and
outpatient market. Hand disinfectants also continued to grow and surface disinfection products
strengthened their position in the market.
IILN 040 9500 00000 0
Management Board: Andreas Joehle (CEO). Dr. Felix Fremerey. Registered Office Heidenheim
Michel Kuehn. Dr. Wolfgang Neumann. Stephan Schulz.
Commercial Register of the District Court of Ulm file no. HRB
Chairman of the Supervisory Board: Fritz-Jürgen Heckmann
661090
Page 1 of 5
PAUL HARTMANN AG
Paul-Hartmann-Strasse 12
89522 Heidenheim
Phone: +49 (0) 7321 36-0
Fax: +49 (0) 7321 36-3636
hartmann.info
P.O. Box 1420
89504 Heidenheim
Germany
In Other Group Activities, which include consumer products and trading activities, the HARTMANN
GROUP recorded sales revenues of EUR 386.1 million, an increase of 7.1% compared to the
previous year. Customer sales increased in Germany and abroad: Business in Germany grew
3.8%, while foreign sales increased by 11.0% excluding exchange-rate effects.
Sales growth in Germany and abroad
In fiscal year 2014, HARTMANN increased sales in markets both at home and abroad. Sales
revenues in Germany rose 3.1% to EUR 623.8 million while sales revenues outside Germany
increased by 4.1% to EUR 1,238.2 million. Excluding exchange-rate and acquisition effects, sales
were up 5.5%.
Double-digit increase in EBIT and consolidated net income
With EBIT of EUR 122.4 million, the HARTMANN GROUP increased the prior year's results by
20.0%. In addition to positive sales performance, the increased sales of higher-margin products
and increased productivity contributed to the improvement in results. The consolidated net income
was EUR 78.3 million, an increase of 25.4% compared to the previous year.
Net debt completely eliminated
In the past fiscal year, the HARTMANN GROUP generated net liquidity of EUR 10.8 million. Net
debt of EUR 59.0 million at the end of 2013 was completely eliminated. The financial position
improved by EUR 69.8 million compared to the previous year. The Group's equity capital, including
minority interests, increased by EUR 43.3 million to EUR 690.4 million in fiscal year 2014. With a
slight increase in the balance sheet total, the equity ratio further increased from 54.5% in 2013 to
55.4% at December 31, 2014.
Number of employees slightly below previous year's level
At the end of 2014, the HARTMANN GROUP had 10,216 employees worldwide, a decrease of 246
employees compared to the end of 2013. 4,349 of these employees worked in Germany; 5,867
worked in foreign operations. This is a ratio of 42.6% to 57.4%.
Proposal to raise dividend to EUR 6.50 per share
At the Annual General Meeting, the Management Board and the Supervisory Board will propose a
dividend increase from EUR 5.70 to EUR 6.50 per share. With this proposal for the appropriation of
net income, the dividend yield is 2.0% when related to the 2014 year-end rate.
Outlook
In light of opportunities presented by demographic changes and developments in emerging
markets and risks related to changes in the national health systems, HARTMANN sees itself well
positioned to continue its profitable growth. The company will actively manage the intense volatility
in raw material and currency markets. HARTMANN makes investments in established and new
markets to support organic growth and to expand its market position in key areas such as modern
wound care or infection prevention.
IILN 040 9500 00000 0
Management Board: Andreas Joehle (CEO). Dr. Felix Fremerey. Registered Office Heidenheim
Michel Kuehn. Dr. Wolfgang Neumann. Stephan Schulz.
Commercial Register of the District Court of Ulm file no. HRB
Chairman of the Supervisory Board: Fritz-Jürgen Heckmann
661090
Page 2 of 5
PAUL HARTMANN AG
Paul-Hartmann-Strasse 12
89522 Heidenheim
Phone: +49 (0) 7321 36-0
Fax: +49 (0) 7321 36-3636
hartmann.info
P.O. Box 1420
89504 Heidenheim
Germany
In its medical core business, the HARTMANN GROUP continues to focus on acquisitions and
strategic partnerships to add to its portfolio and strengthen its position in the markets.
Investments in internal processes in past years will increasingly have a positive effect on earnings
of the HARTMANN GROUP. A permanent work program continues to carefully watch all internal
processes and associated costs to improve productivity.
HARTMANN expects the high volatility in currency relations to continue in the current year, which
will create opportunities as well as risks for HARTMANN. In the short term, the company manages
currency risks through hedging against fluctuations. In the medium and long term, the continued
internationalization of business will contribute to a wider sharing of risk. HARTMANN also sees
volatility in raw material prices, making forecasts difficult. The company closely watches
developments and manages risks with sustainable improvement programs.
Andreas Joehle, CEO of the HARTMANN GROUP: “For fiscal year 2015, we expect that the
programs and measures will have a positive effect on sales and earnings. Considering all relevant
factors, we are cautiously optimistic for fiscal year 2015 that we will have moderate increase in
sales revenues and EBIT.“
IILN 040 9500 00000 0
Management Board: Andreas Joehle (CEO). Dr. Felix Fremerey. Registered Office Heidenheim
Michel Kuehn. Dr. Wolfgang Neumann. Stephan Schulz.
Commercial Register of the District Court of Ulm file no. HRB
Chairman of the Supervisory Board: Fritz-Jürgen Heckmann
661090
Page 3 of 5
PAUL HARTMANN AG
Paul-Hartmann-Strasse 12
89522 Heidenheim
Phone: +49 (0) 7321 36-0
Fax: +49 (0) 7321 36-3636
hartmann.info
P.O. Box 1420
89504 Heidenheim
Germany
HARTMANN GROUP
in EUR million
2014
2013
Rounding differences not settled
Sales revenues
Of which outside Germany
in %
1,862.0
66.5
1,794.4
66.3
Consolidated net income
78.3
62.5
Net return on sales in %
4.2
3.5
EBIT
Return on EBIT in %
122.4
6.6
102.1
5.7
Equity ratio in %
55.4
54.5
Net financial position as at
December 31
+10.8
-59.0
Employees as at December
31 1)
10,216
10,462
Dividend per share in EUR
6.50 2)
5.70
Changes to the
previous year
absolute
+67.6
in %
+3.8
+0.3
+15.8
+25.4
+20.0
+20.3
+20.0
+15.8
+1.7
+69.8
-
-246
-2.4
+0.80
+14.0
1)
Excluding employees on parental leave and Management Board members of PAUL HARTMANN AG
2)
In accordance with dividend proposal
Press contact:
Matthias Mietka
PAUL HARTMANN AG
Phone: +49 7321 36-1380
Fax: +49 7321 36-2380
E-Mail: [email protected]
Anja Krey
PAUL HARTMANN AG
Phone: +49 7321 36-1312
Fax: +49 7321 36-3678
E-Mail: [email protected]
IILN 040 9500 00000 0
Management Board: Andreas Joehle (CEO). Dr. Felix Fremerey. Registered Office Heidenheim
Michel Kuehn. Dr. Wolfgang Neumann. Stephan Schulz.
Commercial Register of the District Court of Ulm file no. HRB
Chairman of the Supervisory Board: Fritz-Jürgen Heckmann
661090
Page 4 of 5
PAUL HARTMANN AG
Paul-Hartmann-Strasse 12
89522 Heidenheim
Phone: +49 (0) 7321 36-0
Fax: +49 (0) 7321 36-3636
hartmann.info
P.O. Box 1420
89504 Heidenheim
Germany
About the HARTMANN GROUP
The HARTMANN GROUP is one of the leading European providers of medical and hygiene products with
core competences in wound treatment (e.g. wound dressings, negative-pressure wound therapy, conforming
bandages, plasters), incontinence care (e.g. disposable incontinence briefs and pads as well as products for
skin care in case of incontinence) and infection protection (e.g. surgical drapes, operating theater clothing,
disposable surgical instruments and disinfectants). The portfolio is supplemented by products for
compression therapy and first aid. Moreover, HARTMANN offers innovative system solutions for professional
target groups in the medical and care sector. The company with its headquarters in Heidenheim/Germany,
whose priority market is Europe, has operations around the world. In 2014, just over 10,000 employees in
the HARTMANN GROUP generated sales of about EUR 1,862.0 million.
PAUL HARTMANN AG, located in Heidenheim/Germany, is the core of the group of companies. It belongs to
the eldest German industrial operations, dating back to the textile factory founded by Ludwig von Hartmann
in 1818. In 1873, his son Paul Hartmann started with the production of surgical cotton wool. Later the
company became the flagship of an expanding dressing materials industry. In addition to a number of foreign
sales companies, the HARTMANN GROUP includes BODE Chemie (Hamburg), Karl Otto Braun (Wolfstein),
Sanimed (Ibbenbüren) and Kneipp (Würzburg).
IILN 040 9500 00000 0
Management Board: Andreas Joehle (CEO). Dr. Felix Fremerey. Registered Office Heidenheim
Michel Kuehn. Dr. Wolfgang Neumann. Stephan Schulz.
Commercial Register of the District Court of Ulm file no. HRB
Chairman of the Supervisory Board: Fritz-Jürgen Heckmann
661090
Page 5 of 5