In the first nine months of fiscal year 2012, the HARTMANN GROUP's global sales revenues increased to EUR 1,303.6 million. This is an increase of 3.2% compared to the previous year.
In the Incontinence Management segment, HARTMANN increased its sales revenues by 3.3% to EUR 468.2 million as at the end of the third quarter of 2012. The MoliForm/MoliPants two-piece system and MoliCare Mobile, the incontinence pants for mobile patients, in particular contributed to this development. The skin-care range for the irritated skin of elderly people offered under the Menalind brand name was the fastest growing range in this segment.
In the Infection Management segment, sales revenues rose by 0.7% to EUR 281.1 million as at September 30, 2012. While HARTMANN continued its growth, especially in the field of custom procedure trays and disinfectants, the company terminated unprofitable business in the area of examination gloves and surgical dressing materials.
The share of the medical core segments in total sales was 84.7% in the first nine months of the current fiscal year.
Other Group Activities recorded sales revenues of EUR 199.7 million as at September 30, 2012, an increase of 5.5% compared to the previous year, which resulted in particular from the growth of the Kneipp Group.
Extraordinary effects and higher expenses impact results
In the first three quarters of 2012, the HARTMANN GROUP made a number of investments that serve to ensure sustained growth. Building marketing and sales capacities in connection with the market launch of the new Vivano negative-pressure wound therapy system and further strengthening the market position in Russia and Australia resulted in planned higher expenses. This includes a number of projects for specific sales support in selected countries with the goal to significantly increase the market share of HARTMANN. Despite these investments, operating results excluding extraordinary effects increased above average compared to the record level of the previous year. At the same time, net debt was further reduced.
However, HARTMANN was confronted with continued rises in the price of crude oil-based raw materials. The difficult economic situation in southern Europe negatively impacted the performance of the subsidiaries there. Moreover, the company had to cope with extraordinary effects: investments in the Kneipp location concept, higher expenses associated with the modification of the concept for the site in Russia as well as additional costs for solving quality problems with some sterile gauze products. EBIT of the HARTMANN GROUP therefore declined by 10.5% to EUR 70.6 million in the first nine months of the current fiscal year. Accordingly, consolidated net income declined by 11.2% to EUR 45.1 million.
High equity ratio further increased
The equity ratio was 54.7% at the end of the third quarter of 2012, improving further at a high level. As at September 30, 2012, net debt of the HARTMANN GROUP was further reduced. Net debt was EUR 109.8 million, a decrease of EUR 74.2 million compared to September 30, 2011.
Number of employees increased
On September 30, 2012, the HARTMANN GROUP had 10,392 employees, an increase of 426 employees compared to the end of 2011. This change is mainly based on the expansion of manufacturing capacity in the Czech Republic and customer service functions in Germany. 61.8% of the employees were working in foreign subsidiaries at the end of the third quarter of 2012.
Outlook
“With its consistently implemented FOCUS strategy, the HARTMANN GROUP continues on the right track. The recently launched BENCHMARK project provides the basis for sustainable development of the company to achieve long-term profitable growth in the three medical core segments despite the increasingly difficult market environment and further strengthen the market position of HARTMANN,“ CEO Dr. Rinaldo Riguzzi said, summarizing the further course of the company.
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