HMS Group announces management statement and financial highlights for 3 months 2018

HMS HYDRAULIC MACHINES & SYSTEMS PLC (the “HMS Group”, “Group”) (LSE: HMSG), the leading pump, oil & gas equipment and compressor manufacturer and provider of flow control solutions and related services in Russia and the CIS, today announces its financial results for three months ended March 31, 2018.

Financial highlights 3 months 2018:

  • Revenue: Rub 8.7 bn (-11% yoy)
  • EBITDA[1]: Rub 1.1 bn (+3% yoy), EBITDA margin 12.4%
  • Operating profit: Rub 430 mn (-23% yoy), operating margin down to 4.9%
  • Profit for the period: Rub 19 mn (-75% yoy), net income margin 0.2%
  • Total debt: Rub 17.1 bn (+8% yoy)
  • Net debt: Rub 14.8 bn (+14% yoy)
  • Net debt-to-EBITDA LTM ratio: 2.16x

Operational highlights 3 months 2018:

  • Backlog: Rub 46.0 bn (+28% yoy)
  • Order intake: Rub 10.4 bn (-54% yoy)

[1] EBITDA is defined as operating profit/loss from continuing operations adjusted for other operating income/expenses, depreciation and amortisation, amortisation of government grants, impairment of assets, excess of fair value of net assets acquired over the cost of the acquisition, defined benefits scheme expense and provisions (including provision for obsolete inventory, provision for impairment of accounts receivable, unused vacation allowance, warranty provision, provision for legal claims, tax provision and other provisions). This measurement basis, therefore, excludes the effects of a number of non-recurring income and expenses on the results of the operating segments.

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