H+H International A/S announced that at annual general meeting held on April 17, 2013 elected Kent Arentoft and Henriette Schütze to the Board of Directors. At a meeting of the Board of Directors held immediately after the annual general meeting, the Board of Directors elected Kent Arentoft as its chairman. The shareholders in general meeting passed the proposal by the Board of Directors for amendment of article 13.2 of the Articles of Association, whereby the appointment of a Deputy Chairman of the Board of Directors is made optional.

H+H International A/S, Board Meeting, Apr 17, 2013. Agenda: To elect Kent Arentoft as its chairman.

H+H International A/S reported audited consolidated and parent earnings results for the financial year ended December 31, 2012. For the year, the consolidated company reported revenue of DKK 1,322.3 million against DKK 1,309.8 million for the same period a year ago. EBITDA was DKK 86.0 million against DKK 92.5 million for the same period a year ago. Operating profit (EBIT) was DKK 15.5 million against LBIT of 9.4 million for the same period a year ago. Loss from continuing operations before tax was DKK 29.1 million against DKK 59.8 million for the same period a year ago. Loss for the year from continuing operations was DKK 59.6 million or DKK 6.09 diluted loss per share against DKK 75.8 million or DKK 7.75 diluted loss per share for the same period a year ago. Loss for the year attributable to shareholders is DKK 82.4 million against DKK 124.5 million for the same period a year ago. Loss per basic and diluted share is DKK 8.41 against DKK 12.72 for the same period a year ago. Cash flow from operating activities was DKK 23.1 million against DKK 42.9 million for the same period a year ago. Free cash flow is DKK 125.4 million against DKK 10.8 million for the same period a year ago. ROE was 17% against negative 19.5% for the same period a year ago. Acquisition of property, plant and equipment and intangible assets was DKK 27.0 million against DKK 36.9 million for the same period a year ago. Interest-bearing debt (net) was DKK 538.6 million against DKK 628.5 million a year ago. With unchanged exchange rates, net interest-bearing debt would have been DKK 531 million. Book value per share, year-end was DKK 43 against DKK 56 a year ago. Diluted loss per share, adjusted was DKK 8.4 against DKK 12.7 a year ago. EBITDA before special items was DKK 92.0 million. For the year, the parent company reported LBITDA was DKK 25.23 million against DKK 12.84 million for the same period a year ago. Operating loss was DKK 138.09 million against 367.33 million for the same period a year ago. Loss from continuing operations before tax was DKK 136.45 million against DKK 372.96 million for the same period a year ago. Loss for the year from continuing operations was DKK 136.45 million against DKK 371.45 million for the same period a year ago. Loss for the year attributable to shareholders is DKK 136.45 million against DKK 371.45 million for the same period a year ago. Cash flow used in operating activities was DKK 19.46 million against DKK 21.01 million for the same period a year ago. Acquisition of property, plant and equipment and intangible assets was DKK 0.254 million against DKK 1.93 million for the same period a year ago. For the year 2013, the company expects EBITDA to be in the region of DKK 90 million. Efficiency gains and structure improvements are counterbalancing the difficult market situation in Europe, the negative effects of the divestment of H+H Ceská and the weak British pound. Free cash flow is expected to be positive in the region of DKK 0-15 million before disposal of assets. Total investments are expected to be in the region of DKK 50 million.