ACTIVITY IN 2016: EUR 524.2 MILLION

Turnover up 2% in 2016

Strategic transformation of the Group continues

As part of its strategic transformation which began in February 2016, HERIGE Group is continuing with its program of sales with an impact on December 31, 2016 within its Building Materials Trading and Concrete Industry business divisions. In accordance with IFRS 5, companies that are subject to negotiations for their sale are classed as "discontinued or held-for-sale" and are not included in the turnover reported for 2016. Turnover for 2016 and 2015 has been restated on a comparable pro-forma basis.

IFRS – € million

 Consolidated turnover
2016 ⁽¹⁾
2015 ⁽²⁾

restated
2015

reported
Change

2016 vs 2015 restated


1^st quarter
128.6
120.2
128.0
7.0%


2^nd quarter
147.6
141.4
149.5
4.4%


3^rd quarter
116.5
119.7
128.7
-2.6%


4^rd quarter
131.5
132.7
140.9
-0.9%


 TOTAL
524.2
513.9
547.0
2.0%


Building Materials Trading
335.4
330.0
356.7
1.6%


Concrete Industry
70.2
70.3
76.8
-0.1%


Industrial Joinery
128.0
121.6
121.6
5.3%


Other
27.9
30.3
30.3
-8.0%


Inter-segment eliminations
-37.4
-38.3
-38.3
-

1. Figures have not been audited. Turnover for 2016 is reported in line with IFRS 5 (excluding activities sold or in the process of being sold).


2. Turnover restated for activities sold or in the process of being sold in accordance with IFRS 5.
   
   IFRS 5 does not include VM Piscines which was sold at the start 2017

Activity in 2016

HERIGE posted turnover of €131.5 million (restated for IFRS 5) for the 4^th quarter of 2016, down by a marginal 0.9% on the same period in 2015. All Group activities suffered from a negative calendar effect, with 2 working days less in the 4^th quarter combined with an unfavorable base effect.

In this quarter, turnover for Building Materials Trading fell 2.6% to €81.8 million (restated for IFRS 5), whilst Concrete Industry turnover also fell 1.6% and continues to be hampered by a fiercely competitive market. Industrial Joinery reported growth of 2.4% for the period thanks to the first benefits of new industrial joinery product, AM-X.

Full-year turnover amounted to €524.2 million (restated for IFRS 5) in 2016, up 2.0%, which reflects a gradual rebound in activity due to a catch-up effect in the first half of 2016 and despite an unfavorable calendar effect on the second half.

Outlook and developments

HERIGE Group remains focused on revitalizing its sales strategy and resources, on industrial efficiency and on innovation in order to capitalize in full from the first positive signs of the construction sector.

At the same time, the Group is continuing to take the necessary action to restore the profitability needed to finance its future development.

Next publication: FY 2016 results on 15 March 2017 (after the stock exchange closes)

All our financial communications are available on our website: www.herige-group.com

Source: Actusnews