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Hartmann Group Releases Results

May 11, 2011

Sales revenues reach $2.4 billion.

The Hartmann Group recorded sales revenues of $2.4 billion—an increase of 4.6% compared to the previous year. After last year's increase, Hartmann further improved its profitability in 2010 at a higher level. Consolidated net income rose by 19.2% to $103 million.
Hartmann thus continued its growth path in 2010, based on its strong sales growth in 2009.

In the medical core segments Wound Management, Incontinence Management and Infection Management, Hartmann sales revenues rose by 4.5% to $2 billion worldwide in 2010. Due to the similarly strong sales performance in Other Group Activities, the share of the medical core business continued at the previous year's level with 84.4%.
In the Wound Management segment, sales revenues were $653 million, an increase of 6.0% compared to the previous year. With regard to product ranges, the strongest impetus for growth came from product systems in modern wound management as well as from postoperative dressings. In the face of continued strong price pressure, the company is satisfied with its performance in traditional wound dressings and compression bandages.
In fiscal year 2010, the Incontinence Management segment, which, with 36.7%, is responsible for the largest contribution to the total sales of the Hartmann Group, achieved customer sales of $888 million, an increase of 6.3% compared to the previous year.

This shows that Hartmann is highly respected by customers as a provider of system solutions for incontinence care in medical facilities or at home despite continuing strong price pressure.

After the Infection Management segment recorded the highest growth of all segments in 2009 in the process of the first-time consolidation of the BODE subsidiary and owing to the sales increase due to swine flu, Hartmann recorded a slight decrease of 0.4% to $490 million in the past fiscal year.

Pandemic-related excess inventory at customers had to be reduced in the first half of 2010 before sales in disinfectants rose again in the second half year. The integration of the BODE sales activities into the European Hartmann subsidiaries was completed in 2010.

In Other Group Activities, which mainly include consumer-oriented products and the trading business in medical and hygiene products, sales revenues rose by 5.6% to $376 million in the past fiscal year.

The general improvement of the economic situation compared to the crisis year of 2009 has not been reflected to the same extent in the health market. Here, overall cost-saving efforts due to customers’ budget restrictions impacted results in 2010. Additionally, there were further price increases in most important raw materials during the course of the year. Cellulose recorded price increases in the two-digit range. Prices for cotton even rose by more than 100 % during the year. In addition to sales growth, productivity improvements in all areas of the company in connection with the Hartmann 2011 program continued to have a positive effect on results.

Under its growth strategy in the Infection Management segment, the Hartmann Group will address the issues of infection control in an integrated manner. With its high scientific and medical competence in infection control, HARTMANN positions itself to customers as a recognized specialist in the prevention of infections acquired in medical institutions.
Dr. Rinaldo Riguzzi, chairman of the management board said, "We are well positioned for the current fiscal year despite difficult market conditions. Across all our four business segments, I expect further above-market organic growth with consolidated operating profit at last year's level."

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