FOURTH QUARTER 2015 REVENUES
FLEXIBLE COMPOSITE MATERIALS UP 5.9%
SergeFerrari Group (FR0011950682) designs, manufactures and distributes innovative flexible composite materials and is listed on Euronext Paris - Compartment C.
Saint Jean de Soudain, January 26, 2016
Revenue breakdown by region (unaudited)
| (€000) | Q4 2015 | Q4 2014 | Ch. | 2015 | 2014 | Ch. |
| Southern Europe (SEUR) | 10,895 | 10,112 | +7.8% | 51,924 | 48,616 | +6.8% |
| Wide Europe (WEUR) | 12,444 | 11,641 | +6.9% | 52,068 | 51,350 | +1.4% |
| Rest of World (ROW) | 9,306 | 9,069 | +2.6% | 36,993 | 34,017 | +8.8% |
| Total flexible composite materials | 32,645 | 30,822 | +5.9% | 140,985 | 133,983 | +5.2% |
| Other products | 1,857 | 2,509 | - 26.0% | 7,413 | 8,341 | - 11.1% |
| Total revenues | 34,502 | 33,331 | +3.5% | 148,398 | 142,324 | +4.3% |
Fourth quarter sales rose 10% by volume. The impacts of exchange rates (+2.1%) and sales mix (-6.2%) contributed to the outcome of 5.9% overall growth in sales of flexible composite materials.
For the full year, the increase in volumes sold was 4.5%; the exchange rate impact contributed 2.7% to 2015 sales growth, while the mix/price effect reduced it by 2.0%.
Outlook
Confident of the impact of previous and current sales staff recruitment on 2016 revenue growth, SergeFerrari Group reaffirms its 2018 targets of €215 million revenue and a 15% EBITDA margin.
As of December 31, 2015, the sales force numbered 139 people compared with 122 on January 1, 2015; at end 2016, the sales force should total around 160. Since January 1, 2016, all sales, marketing and supply chain teams have been headed by Hervé Trellu, who joins the Group senior management team as Senior Vice-President Sales & Marketing. Hervé Trellu is tasked with accelerating the international expansion of the Serge Ferrari Group and leveraging the distinguishing strengths of the products.
Calendar
Serge Ferrari will report its 2015 results on March 14, 2016 after close of trading.
Shareholders' general meeting at 11 am on April 25, 2016
Find all Company details at www.sergeferrari.com.
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SERGE FERRARI CONTACT Philippe Brun Chief Financial Officer, Board Member [email protected] |
INVESTOR & PRESS CONTACT Amalia Naveira/Marie-Claude Triquet Actus Lyon Tel.: 00 33 4 72 18 04 93 [email protected]/[email protected] |
About Serge Ferrari
Serge Ferrari Group designs, makes and distributes high-tech eco-responsible flexible composite materials in a global market with an estimated medium-term value of €31 billion. The unique characteristics of these products make them ideal for technical applications in three fields: architecture, specialties for industry professionals, and composite membranes for the consumer market. The Group's principal competitive advantage lies in its differentiating technology - Précontraint® - and its associated proprietary industrial know-how. The Group has three production sites: one in France and two in Switzerland. Serge Ferrari is present in 80 countries through four subsidiaries (in the US, Japan, Hong Kong, Brazil), 5 representative offices (in Spain, Turkey, China, Singapore and Dubai) and a network of more than 100 distributors. At the end of 2015,
Serge Ferrari posted consolidated revenue of €148,4 million of which 75% was achieved outside France. 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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