HMS Group announces management statement and financial highlights for 9 months 2018

HMS HYDRAULIC MACHINES & SYSTEMS GROUP 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 nine months ended September 30, 2018.

Financial highlights 9 months 2018:

  • Revenue: Rub 31.9 bn (+1% yoy)
  • EBITDA[1]: Rub 4.3 bn (-13% yoy), EBITDA margin 13.6%
  • Operating profit: Rub 2.7 bn (-21% yoy), operating margin down to 8.5%
  • Profit for the period: Rub 1.2 bn (-29% yoy), net income margin down to 3.7%

  • Total debt: Rub 19.2 bn (+16% yoy)
  • Net debt: Rub 14.8 bn (+16% yoy)
  • Net debt-to-EBITDA LTM ratio: 2.40x

Operational highlights 9 months 2018:
  • Backlog: Rub 37.9 bn (-9% yoy)
  • Order intake: Rub 30.7 bn (-32% 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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