The stable trend witnessed in Hartmann's European markets continued in the third quarter of the year, and both Europe and North America reported revenue and operating growth for 9M 2013. The activities to enhance efficiency in Europe and to expand production capacity in North America are progressing according to plan and will contribute to the achievement of Hartmann's long-term goals. Hartmann retains its full-year revenue forecast of DKK 1.5-1.6 billion and revises its profit margin forecast to 8.5-9.5% against previously 7.5-9.5%. CFO and interim CEO Marianne Rørslev Bock on Hartmann's performance in 9M 2013: "Revenue and operating profit increased in the first three quarters of the year, and the efficiency enhancements in Europe as well as the expansion in North America have progressed according to plan. The stable development in our European markets has continued in the third quarter, and we are working determinedly to maintain the positive trend in Europe and further improve results." Marianne Rørslev Bock on Hartmann's outlook: "Following the stabilisation in Europe and the positive developments in the first three quarters, we revise our profit margin forecast to 8.5-9.5% against previously 7.5-9.5%. We still expect revenue of DKK 1.5-1.6 billion in 2013." Highlights * Hartmann's revenue for 9M 2013 was DKK 1,169 million (2012: DKK 1,142 million), and operating profit* was DKK 104 million (2012: DKK 86 million), equal to a profit margin* of 8.9% (2012: 7.5%). For Q3, revenue was DKK 376 million (2012: DKK 373 million), and operating profit was DKK 39 million (2012: DKK 24 million), equal to a profit margin of 10.5% (2012: 6.5%). * Cash flows from operating and investing activities grew to a net cash inflow of DKK 82 million for 9M 2013 (2012: a net cash inflow of DKK 69 million) and amounted to a net cash inflow of DKK 16 million for Q3 (2012: a net cash inflow of DKK 17 million). Return on invested capital (ROIC) rose to 20.4% (2012: 18.7%). * The European revenue for 9M 2013 was DKK 950 million (2012: DKK 946 million), and operating profit increased to DKK 73 million (2012: DKK 63 million), equal to a profit margin of 7.6% (2012: 6.6%). For Q3, revenue was DKK 303 million (2012: DKK 306 million), and operating profit grew to DKK 28 million (2012: DKK 18 million), equal to a profit margin of 9.3% (2012: 5.9%). The efficiency enhancements in the European business continue and are aimed at maintaining the positive trend and further improving the financial performance. * Revenue for the North American business rose to DKK 219 million for 9M 2013 (2012: DKK 197 million), and operating profit rose to DKK 49 million (2012: DKK 41 million), equal to a profit margin of 22.5% (2012: 21.0%). For Q3, revenue was DKK 73 million (2012: DKK 66 million), and operating profit grew to DKK 16 million (2012: DKK 11 million), equal to a profit margin of 21.8% (2012: 16.3%). * Special items amounted to an expense of DKK 39 million for 9M 2013 (2012: DKK 0 million), covering the closure of the manufacturing facility in Finland and a severance payment to the former CEO of Hartmann. * Hartmann has appointed Ulrik Kolding Hartvig as CEO. Ulrik Kolding Hartvig will join Hartmann on 1 May 2014 at the latest, taking over from Marianne Rørslev Bock, who has acted as interim CEO since June 2013. * Hartmann retains its full-year revenue forecast of DKK 1.5-1.6 billion and revises its profit margin forecast to 8.5-9.5% against previously 7.5-9.5%. * References to operating profit in this report are to operating profit before special items, and references to profit margin are to profit margin before special items, unless otherwise stated. For additional information, please contact: Marianne Rørslev Bock CFO and interim CEO Tel.: (+45) 45 97 00 57 [HUG#1742431]