Brødrene Hartmann A/S, a prominent manufacturer of fruit packaging in South America and India, has announced its preliminary Q1 2023 financial figures and updates guidance for 2023
Q1 2023 preliminary financial figures
Preliminary revenue came to DKK 913 million (Q1 2022: DKK 753 million) and preliminary operating profit grew to DKK 157 million (Q1 2022: DKK 42 million). The improvements were due to pricing actions, favourable product mix, substantial temporary benefits from declining energy prices, increased capacity utilisation and efficiencies. Investments amounted to DKK 65 million (Q1 2022: DKK 34 million), hereof DKK 38 million to the re-establishment of the factory in India. The related insurance reimbursement came to DKK 30 million.
Updated guidance for 2023
Based on the preliminary figures for Q1 2023 and decreasing energy prices, Hartmann now expects to generate revenue of DKK 3.4-3.8 billion (previously DKK 3.6-4.0 billion) and operating profit of
DKK 300-400 million (previously DKK 220-320 million) in 2023. The investment outlook of around DKK 300 million excluding the insurance covered re-establishment of the factory in India is maintained.
The lower revenue range is mainly based on expectedly lower sales prices to those customers, whose charges with Hartmann are linked to the development of energy prices. Adjusted operating profit is based on an expectedly improved performance in the Americas from increased capacity utilisation and efficiencies. Hartmann still expects energy and raw material prices to remain high and volatile in 2023.
The interim report for Q1 2023 will be published on 9 May 2023.
For more information: 
Torben Rosenkrantz-Theil
Brødrene Hartmann A/S
Tel.:(+45) 2728 2856
Kamilla Hoffmann
Te.: +45 27282856
kho@hartmann-packaging.com