Heidenheim, 9 Nov. 2021 - The coronavirus pandemic continued to have a significant impact on HARTMANN's business development in the third quarter of 2021. Due to the gradual reduction of coronavirus restrictions worldwide, the frequency of visits to doctors and pharmacies has increased and the occupancy rates in hospitals and care facilities has also improved to a certain extent – this has had a positive effect on the course of business. Negative market developments continued into the third quarter of 2021. These included significantly higher freight costs and material prices, as well as reduced sales in the area of personal protective equipment and disinfectants, partly due to the fact that many customers still have a very large inventories of these products.
Across all business segments, the Company generated revenue of EUR 1,704.9 million in the first nine months of the 2021 financial year. This equates to a moderate organic decline in revenue of -5.6% compared to the same period of the previous year. This means that the development of sales has been declining for three quarters in a row. Adjusted EBITDA is at EUR 192.0 million for the first three quarters of 2021, a decline of -7.3% compared to the corresponding period in 2020. In the third quarter of 2021 alone, profitability is at its lowest level in three years due to pandemic-related economic conditions in the market.
In the third quarter of 2021, HARTMANN reached its planned progress milestones for all key projects of its Transformation Program. Taking these market developments into consideration, the consistent implementation of this program is of great importance for the future development of the company.
HARTMANN still confirms its forecast for financial year 2021 as published in the Annual Report 2020, which foresees a moderate organic decline in sales and a declining adjusted EBITDA of EUR 210 to 260 million.