FIRST HALF 2015 RESULTS
Revenue up 4% Net income up 5%
SergeFerrari Group (FR0011950682) creates, manufactures and distributes innovative flexible composite materials and is listed on Euronext Paris - Compartment C.
Saint Jean de Soudain, September 2, 2015
Audited first half results (January 1 - June 30)
(€000)
H1 2015
H1 2014 (1)
Change (%)
Total revenues
78,996
75,842
+4.2%
Adjusted EBITDA
10,826
10,080
+7.4%
EBIT
6,461
6,336
+2.0%
Net income
3,599
3,423
+5.1%
(1) Where applicable, 2014 figures have been restated in accordance with IFRIC 21, applicable from January 1, 2015
The gross margin on standard cost of sales of flexible composite materials rose 1 percentage point from 45.8% in first half 2014 to 46.8%. Marketing expenditure was particularly high, up 14.5% on first half 2014. Other operating expenses remained stable. The combined effect of these two items resulted in a 2.0% rise in EBIT.
Financing
On July 28, 2015, the Company closed financing facilities for a total amount of €50 million, including a €15 million Euro Private Placement (Euro PP) and a €35 million revolving credit facility, which may be used for general purposes and, if the opportunity arises, for acquisitions.
Outlook
SergeFerrari Group continued to hire sales staff increasing the headcount to 125 at June 30, 2015 with the aim of reaching 140 by year end. In light of its first half 2015 results, SergeFerrari Group expects to increase both revenue and margins in 2015 and is confident of achieving its 2018 targets of €215 million revenue and a 15% EBITDA margin.
Half-year financial report
In accordance with the Transparency Directive, the Company hereby confirms that it has published its first half 2015 financial report and filed it with the French Financial Markets Authority. The report may be viewed at www.sergeferrari.com under the heading Investors / Financial Information.
Next release
Q3 2015 revenue, November 4, 2015 after market close.
Find all Company details at www.sergeferrari.com.
SERGE FERRARI CONTACT
Philippe Brun
Chief Financial Officer
investor@sergeferrari.com
INVESTOR/MEDIA CONTACT
Amalia Naveira/Marie-Claude Triquet
Actus Lyon
Tel: 00 33 4 72 18 04 93
anaveira@actus.fr/mctriquet@actus.fr
About Serge Ferrari
Serge Ferrari posted consolidated revenue of €142,3 million of which 75% was achieved outside France, with 605 employees. The company SergeFerrari Group is listed on Euronext Paris – Compartment C (ISIN code: FR0011950682). The SergeFerrari Group share is eligible for PEA-SME and FCPI Investment.
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Full and original press release in PDF:
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Quelle: Actusnews