Q3 2014 operating result for HES Beheer

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.

==> For the full text of the press release dated 23 October 2014, click on "Investor Relations > Press releases"

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