VM MATERIAUX : 1st half-year 2009 Turnover

Consolidated turnover
2009(1) 2008(2) Var. % Var. %
like for like
1st quarter 142.3 159.7 -10.9% -14.3%
2nd quarter 168.9 185.4 -8.9% -14.7%
TOTAL 311.2 345.1 -9.8% -14.5%
Materials trading 241.1 278.8 -13.5% -16.9%
Concrete industry 22.9 25.8 -11.4% -11.4%
Industrial joinery 55.2 49.2 +12.3% -3.0%
Other (services) 9.7 10.6 ns ns
Intersector trade elimination -17.7 -19.3 ns ns

(1) These non-audited figures include the Vendôme Fermetures company integrated since 1 May 2009, BTP Services integrated since 1 January 2009, and the companies Bestkind, L Diffusion, BTP Charpentes integrated over 2008.

(2) The figures as of 30 June 2008 have been readjusted following the retrospective application of the interpretation of the IFRIC 13 "Customer Loyalty Programmes".

Second quarter activity

The VM Matériaux group today reports a 2009 second-quarter turnover of ¤168.9 million, down by 8.9%. The like-for-like turnover has fallen by 14.7% year on year in the second quarter of 2009, keeping pace with the first quarter trend. This period has been impacted by the current economic situation still affecting the construction sector and by an adverse base effect: in the second quarter of 2008, VM Matériaux had posted a record turnover with a 10% organic growth.

Thus, for the first six months of the 2009 financial year, the Group's turnover amounts to ¤311.2 million, down by 9.8% compared to the same period of the 2008 financial year (-14.5% like-for-like).

Throughout the first half of the year, Materials Trading and Concrete activities have faced a significant decline in volumes due to the drop in new housing building projects, while sales prices have remained stable.
Nevertheless, the acquisition of BTP Services in Réunion Island and the purchase of the business assets of Cominex France (distributor of natural stone for urban infrastructure) in January 2009, in addition to the acquisition of majority stake in the Bestkind Group in April 2008, enable the Group to strengthen its offering to the Public Works sector, a market with high potential and, furthermore, supported by the Economic Relaunch Plan.

Being based on the renovation market, which continues to flourish despite the economic downturn, the Industrial Joinery activity has shown better resistance. In addition, the integration of Vendôme Fermetures has enabled this activity to record growth of +12.3%.

2009 outlook

In an economic context which will probably remains challenging in the coming months although the trading market appears to be stabilising, the Group remains vigilant and continues to lead a rigorous management policy in order to preserve its economic fundamentals.

Structured to pass through this difficult period, VM Matériaux is pursuing its development strategy balanced between internal and external growth while focusing on operations offering a rapid return on investment.

Next press release: half-year results on 31 August 2009, after stock exchange closure


VM Matériaux works in the Building industry, centred on three areas of business :

Building material trading (75% of turnover managed): distribution of materials for the building and public works sector, with a network of 116 specialised agencies (incl. 22 overseas), offering locally-based advice to industry professionals and DIY customers; the group is also present in China, where it has a sourcing activity, but also trades in natural stone for external work and interior decoration; The Concrete industry (12%): industrial pre-cast and ready-mix concrete (slabs, paving, blocks and prefabricated facade components); Industrial joinery (13%): manufacture of windows and doors (PVC, aluminium, wood) and closures (shutters, garage doors, portals), as well as wooden structures (truss, traditional framework and wood panels).

The Group was originally based in the Vendée region but is now multi-regional. It employs 3.000 people and is developing its business over Western France and in the overseas departments. The Group achieved a turnover of ¤656.1 million in 2008.

VM Matériaux is quoted on NYSE- Euronext Paris, Compartment C. Index: SBF 250, CAC Mid & Small 190
Codes: ISIN FR000 0066540, Reuters VMMP.PA, Bloomberg VMM.FP, Mnemonic: VMMA

Philippe AUDUREAU - Chairman of the board of directors

Alain MARION - Finance and General Manager
Tel.: +33 (0)251 08 08 08 - Email: vm@vm-materiaux.fr

Eva DAVEAU - Group Communication Manager
Tel.: +33 (0)251 08 08 08 - Email: edaveau@vm-materiaux.fr


Analysts/Investors relations
Tel.: +33 (0)153 67 35 74 - Email: nboumendil@actus.fr

Anne-Catherine BONJOUR
Press Relations
Tel.: +33 (0)153 67 36 93  - Email: acbonjour@actus.fr

Find all the financial communication on www.vm-materiaux.fr

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