HES BEHEER : Q3 operating result HES Beheer - 93.53 KB

P R E S S R E L E A S E

Europoort/Rotterdam, 23 October 2014

Q 3 O P E R A T I N G R E S U L T F O R H E S B E H E E R

Q3 operating result

H.E.S. Beheer N.V. Rotterdam, posted an adjusted net profit of €6.6 million in the third quarter of 2014 (third quarter of 2013: €6.7 million), making an adjusted net profit for the first nine months of €19.7 million (€2.12 per share*) (first nine months of 2013**: €17.7 million; €1.96 per share).
The results at the various subsidiaries and associates were mixed but the overall improvement in the result over the first nine months was largely accounted for by a higher profit and increased profit contribution from EMO (with effect from 30 June 2014, the beneficial interest in EMO has been increased from 36.6% to 57.0%).
The results of ATIC Services and its subsidiaries have been included in the consolidation with effect from 1 July
2014. This largely explains the increase in revenue to € 86.9 million for the first nine months (first 9 months 2013:
€ 45.6 million). Without this effect the revenue would have been € 47.1 million.

Material events and transactions

Public Offer for HES Beheer, delisting on 3 November 2014

On 26 September 2014, 1908 Acquisition B.V. (the "Offeror") (a wholly-owned subsidiary of Hestya Energy B.V.) acquired approximately 97.07% of all issued and outstanding ordinary shares in HES Beheer as a result of the Offeror declaring its recommended public offer for all ordinary shares in the capital of HES Beheer (the " Offer"). Immediately following settlement of the post-acceptance period under the Offer the Offeror held approximately
99.71% of all issued and outstanding ordinary shares in HES Beheer.
As a consequence of the Offer and as previously announced, HES Beheer will cease to be listed on Euronext
Amsterdam on 3 November 2014, with 31 October being the last day of trading in the ordinary shares.

Financial position

As a result of completion of the Offer and the subsequent refinancing of HES Beheer, the solvency and liquidity of
HES Beheer have remained strong.

No statement regarding expected profit for the year

The Executive Board refrains from making any full-year profit forecast.
Executive Board H.E.S. Beheer N.V.

Note for editors

For further information, contact Ms E.L. Groenendijk, Director Special Projects, tel. [phone], e-mail [e-mail]

*Number of shares in issue on 30 September 2014: 9,331,751, on 30 September 2013: 9,049,827.

**Like 2014, in accordance with IFRS 11 and including a non-recurring adjustment in respect of BTT in accordance with IAS 34 (see press release of 9 July 2014).