|IFRS - ¤m
|2007*||2006||Var. %||Var. %
at constant scope
|1st half year||298.1||254.3||+ 17.2%||+ 7.4%|
|3rd quarter||141.4||115.9||+ 22.0%||+ 10.8%|
|TOTAL||439.5||370.2||+ 18.7%||+ 8.5%|
|Materials trading||353.8||308.9||+ 14.5%||+ 6.8%|
|Concrete industry||34.7||29.3||+ 18.3%||+ 13.9%|
|Industrial joinery||63.2||41.8||+ 51.2%||+ 17.9%|
|Intersector trade elimination||-25.5||-20.2||-||-|
* The figures are not audited and include the acquisition of Paul Thébault, Joseph Cotrell, Point Bois, Fargeaudoux, Exelpan, Isiland, CIOB Moisan, Quartz and Béton 17.
Growth in activity
In the first nine months of 2007, the VM Matériaux group recorded a turnover of 439.5 M¤, an increase of 18.7% compared to the same period of 2006 (+8.5% like-for-like). This increase is based on the good performance of all activities, a result of the external growth strategy and the internal investment policy.
The 3rd quarter of 2007 confirmed this dynamic with a 22% turnover increase compared to the 3rd quarter of 2006 (+ 10.8% like-for-like).
Variations in the consolidation perimeter
To complete the distribution network in Gironde for its trading activity, the VM Matériaux group acquired the Fargeaudoux company in 2007, as well as its Exelpan subsidiary, and took a 50% share in the capital of the Isiland company. In 2006, these companies achieved a turnover of 2.9 M¤ with about twenty employees.
In addition, VM Matériaux, which owned 82% of the Atlantem company (The group joinery division) as of December 31, 2006, increased this share to 100% in two stages: 98% on June 30, 2007 and 100% on September 30, 2007.
These operations contributed 37.9 M¤ to the consolidated turnover for the first nine months of 2007.
During the 3rd quarter of 2007, 40,992 share subscription warrants were taken up for an increase in own capital of 3.95 M¤. On September 30, 2007, the number of share subscription warrants remaining to be exercised was 18,770. These share subscription warrants, issued during the capital increase made in November 2004 and giving the right to subscribe to a new share at a price of 48 ¤, were exercisable up to November 8, 2007.
Development and Outlook
Based on the performance in the first nine months of the year and a dynamic market related to the increase in the number of construction starts during the 3rd quarter of 2007, the Group confirms its objective of an annual turnover of 590 M¤, an increase of 17.1% compared to 2006.
This increase should allow a slight improvement in current operating margin compared to 2006.
As announced on the October 1, 2007, VM Matériaux is continuing its development by taking a 50% share in the capital of the Havraise de Matériaux company. This operation will take place in January 2008 and will allow the Group to move progressively into a rapidly developing and dynamic region. With seven branches and 88 employees situated in Le Havre, Rouen and Caen, Havraise de Matériaux achieved a turnover of 28.5 M¤ in 2006.
Next press release Annual turnover, on February 12, 2008, after stock exchange.
ABOUT VM MATÉRIAUX
VM Matériaux works in the Building industry, centred on three areas of business:
- Building material trading (74.4% of the business): distribution of materials for the building and public works sector, with a network of 97 specialised agencies, offering locally-based advice to industry professionals and DIY customers;
- the Concrete industry (13%): industrial pre-cast and ready-mix concrete;
- Industrial joinery (12.6%): a full range of fittings for outside use (PVC, aluminium or wooden windows, roller shutters, front doors) and industrial frames.
The Group was originally based in the Vendée region but is now multi-regional. It employs over 2,600 people and is developing its business over Western France and in the overseas departments. The Group achieved a turnover of 503.7 M¤ in 2006.
VM Matériaux is quoted on Eurolist, Compartment B. Index: SBF 250, CAC Mid & Small 190
Codes: ISIN FR0000066540, Reuters VMMP.NT, Bloomberg VMM.FP, Mnemonic: VMMA
ACTUS FINANCE & COMMUNICATION
Philippe AUDUREAU - Chairman of the board of directors
Alain MARION - Financial and General Manager
Eva DAVEAU - Group Communication Manager
Find all our financial communication on www.vm-materiaux.fr © Copyright Actusnews Wire
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